Patrick Daugherty Discusses Rush to Relist Ripple’s XRP Following Crypto Court Ruling

Foley & Lardner LLP partner Patrick Daugherty is quoted in the Blockworks article, “Exchanges rush to relist XRP, but an SEC appeal is possible,” discussing the move by some cryptocurrency exchanges to relist Ripple’s XRP token following a partial summary judgement by a federal judge in favor of the company that held the asset is not a security when traded on exchanges.

Daugherty said the relistings were not surprising. “The SEC lost everything that mattered,” he stated. “The only part of the case that Ripple lost had nothing whatsoever to do with exchange trading.”

Daugherty noted, however, that there might be concerns around a potential appeal of the decision by the SEC. He added that the success of an appeal would be unlikely.