Lawyer Bill Morgan believes that the US Securities and Exchange Commission (SEC) has little chance of winning an appeal against Ripple in their ongoing legal battle. Morgan’s prediction is based on statistics shared by attorney Jeremy Hogan, which show that the SEC has a 14.2% chance of winning the appeal. Morgan points out that the only potential error subject to appeal is Ripple’s support for sales that do not meet the Howey test. If the SEC were to appeal the retail sales ruling, it would likely strengthen the court’s decision. However, it may take some time before the regulator can appeal.

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