Who is Analisa Torres?

Federal Judge Analisa Torres gave the crypto industry a shot in the arm last July when she handed Ripple a partial victory in its fight with the U.S. Securities and Exchange Commission.

Did Judge Torres reject his analysis?

Another judge in the same court, Judge Jed Rakoff, explicitly rejected Judge Torres' analysis in a summary judgment ruling of his own in the SEC's case against Terraform Labs – though, of course, the circumstances of that ruling are unique to that case, as the circumstances of the Ripple ruling are unique to this case.

Why did Judge Torres deny the SEC's motion?

Judge Torres denied the SEC's motion on Oct. 3, ruling that its holding did not (i) pose a controlling question of law (ii) for which there was a substantial ground for difference of opinion. Under the first prong, the court reasoned that the SEC disputed not the relevant legal standard, but its application to the facts of the case.

Why did Gensler & Torres decide to regulate crypto?

Gensler and the agency have been driven by their belief that most of the thousands of tokens in circulation are unregistered securities that must be regulated like stocks and bonds, and they’ve been backed by a near-perfect record in the courts — until now. Torres’ decision is clearing the way for a new power struggle between the SEC and crypto.