Former SEC head Robert Cohen believes the Ripple lawsuit is critical for the entire crypto world.
However, the outcome is less important, he said, as the regulator is very likely to file a motion for reconsideration if it loses the lawsuit against Ripple.
The SEC will do everything it can to win the lawsuit
Robert Cohen was chief of the SEC’s enforcement division. In an interview, Cohen responded to a question about what would happen if the Securities and Exchange Commission will do if they lose the lawsuit against Ripple.
According to Cohen, this would be less positive for Ripple than many people think. According to Cohen, the SEC will file a motion of reconsideration and will do everything it can to still sue Ripple. The same happened once in another lawsuit against the company Blockvest.
On November 27, 2018, the SEC lost a lawsuit against the company Blockvest, LLC. Blockvest’s win was big news in the industry, but on December 18, 2018, the SEC requested a partial reconsideration.
On February 14, 2019, the court approved the SEC’s request for reconsideration based on new evidence and an argument the court had apparently overlooked. The SEC simply reversed the previous loss.
Cohen also says that a Ripple victory would certainly not mean the end of the legal battle. The supervisor will do everything in its power to prove it right. Especially because it is so important for the future of all crypto companies.