In the latest twist to the ongoing SEC vs. Binance case, Australian lawyer Bill Morgan took to Twitter, highlighting the importance of the SEC’s recent move to certify an interlocutory appeal.
Responding to public comments on social media, Bill Morgan clarified his view that the SEC may use the interlocutory appeal to “bolster its argument that the issue she [Judge Torres] decided is arising in other matters.” He suggests that the SEC’s motive behind the interlocutory appeal is to emphasize that Judge Torres’ rulings have broader implications that could significantly impact other cases.
Why the Interlocutory Appeal Matters Even More
Morgan’s comments gain added weight when considering Judge Torres’ earlier ruling in the SEC vs. Ripple Labs case. Torres held that ‘blind bid/ask transactions’ do not fall under the definition of “investment contracts.” If Torres’ interpretation carries over into the Binance case, the SEC’s interlocutory appeal would take on even greater significance. This is because it would challenge the Binance ruling and potentially the foundational logic behind the SEC’s approach to crypto regulation.
Also Read – Here’s How SEC vs. Binance Case Could Set New Precedents for Crypto Regulation
Ripple’s Firm Stance Against SEC’s Appeal
Simultaneously, Ripple Labs has strongly opposed the SEC’s latest attempt to certify an interlocutory appeal in its own ongoing legal battle. This dual resistance from both Ripple and Binance adds an intriguing dynamic to how interlocutory appeals could shape individual cases and set new precedents for cryptocurrency regulation.
The stakes of the interlocutory appeal are high. Should Judge Torres grant it, the ripple effect could be far-reaching. Morgan’s reply hints that Torres’ decision may be a key consideration for the SEC, even as they contend with differing opinions from trial court judges across various circuits.
The Crypto Community Waits
Bill Morgan’s insights into the SEC’s push for an interlocutory appeal have spotlighted an often-overlooked but critical aspect of crypto litigation. As both the Binance and Ripple cases progress, the focus is shifting toward how such appeals could influence individual cases and the broader regulatory framework governing cryptocurrencies.
