Former SEC official predicts agency will score major victory in Terra lawsuit, and judge will continue to reject Ripple ruling

Former US SEC official John Reed Stark published a long article on the X platform on Monday, sharing some predictions about the regulator’s actions against crypto companies. Stark expects the SEC to score a significant victory in the Terra lawsuit; furthermore, District Judge Jed Rakoff will continue to overturn District Judge Analisa Torres’ ruling regarding Ripple and XRP. Stark mentioned that both the SEC and Terraform Labs “have now filed summary judgment motions, with both parties hoping to obtain an early victory on the issue of whether crypto tokens are securities.” In the lawsuit, the U.S. District Court for the Southern District of New York (SDNY) Judge Jed Rakoff dissented from District Judge Analisa Torres’ ruling regarding Ripple and XRP. It is reported that Stark is currently the president of John Reed Stark Consulting, a network security company. He founded and served as director of the SEC's Office of Internet Enforcement for 11 years. He also served as an SEC enforcement attorney for 15 years. (Bitcoin.com)