Pro-XRP legal expert Bill Morgan recently expressed his strong sentiments towards the US Securities and Exchange Commission (SEC) in the wake of their decision to dismiss the claims against Ripple’s executives, Brad Garlinghouse and Chris Larsen. In a series of posts on his social media platform, Morgan did not hold back as he publicly wished for the worst possible penalties for the SEC, emphasizing their actions throughout the litigation process.

The Penalty Phase and Potential Court Intervention:
Morgan’s comments were specifically directed towards the upcoming penalty phase, in which the SEC and Ripple will negotiate the fine Ripple must pay due to its institutional sales being deemed investment contracts by Judge Analisa Torres. Morgan expressed hope that the court awards the smallest penalties possible, while noting that if both parties fail to agree, Judge Torres may need to intervene to determine a remedy.

Trial Proceedings following Dismissal:
Following the SEC’s dismissal of claims against Garlinghouse and Larsen, the scheduled trial to hear the SEC’s case against Ripple and its founders will proceed. Contrary to the notion that the SEC can immediately appeal, Judge Torres must issue a final judgment, acknowledging the dismissal and deciding on remedies for the violation in relation to institutional sales.

Reasons behind the Strong Sentiments:
In previous tweets, Morgan laid a foundation for his critical stance towards the SEC. He highlighted how the SEC initially sought an injunction to halt future sales of XRP by Ripple, which would have had significant adverse effects on Ripple as an organization and on the lives and livelihoods of Garlinghouse and Larsen. Morgan pointed out that the SEC’s allegations lacked evidence of fraud or investor harm. Furthermore, he accused the regulator of intentionally prolonging the case to increase the defendants’ legal costs.

Similar Views from Ripple’s Co-Founder:
Chris Larsen, co-founder of Ripple, shared similar sentiments regarding the SEC’s actions. He also believes that the SEC must be held accountable for the baseless claims it made against him and Garlinghouse. Larsen further criticized the Commission for eroding the country’s global reputation as an innovation hub due to their actions.

Bill Morgan’s strong sentiments towards the SEC reflect the mounting frustration within the pro-XRP community regarding the litigation process against Ripple’s executives. As the penalty phase approaches and the trial proceeds, the cryptocurrency industry eagerly awaits the final judgment from Judge Torres to determine the course of action for Ripple and the potential implications for the regulatory environment surrounding digital assets.

Disclaimer: The information provided in this research report is for informational purposes only and should not be interpreted as financial or investment advice. The NFT and cryptocurrency market is highly volatile, and readers should conduct thorough research before making any investment decisions.