On February 23, Joseph Hall, a former U.S. Securities and Exchange Commission (SEC) official, believes that the SEC is not yet equipped to handle lawsuits involving cryptocurrencies as securities, making it difficult to win a case against Ripple.
Hall argues that Ripple has a strong defense that the SEC failed to give fair notice of its investigation. In addition, Hall said: “The SEC has a lot of influence on this case, and if they lose on the merits, their entire regulatory program could basically be shut down.”