U.S. Court of Appeals for the Second Circuit refuses SEC to retry Govil case, Ripple may benefit

According to U.Today, the U.S. Court of Appeals for the Second Circuit declined to reopen the SEC (U.S. Securities and Exchange Commission) case against Govil, which is an important development for Ripple and the broader cryptocurrency industry. Ripple’s Chief Legal Officer Stuart Alderoty emphasized the importance of a recent court ruling that held that the SEC has no right to recover from a seller if the buyer has no financial losses. This perspective may be particularly relevant to Ripple’s lawsuit, as the SEC requires Ripple to pay substantial fines and penalties totaling $2 billion. Additionally, the Second Circuit Court of Appeals’ refusal to reopen the Govil case could have far-reaching consequences for the SEC’s case against Ripple. Ripple may use the ruling to fight the SEC's claims regarding the recovery it seeks.