If the SEC wants to appeal last week’s judgment in the Ripple case, it better act fast. So says Bill Hughes, regulatory chief at Ethereum booster ConsenSys and one of the many crypto policy pros assessing the ramifications of U.S. district judge Analisa Torres’ decision. The regulatory agency’s decision to appeal hinges on a number of factors, Hughes says, including that this Supreme Court will likely be unkind to SEC Chair Gary Gensler’s interpretation of how to regulate crypto. But of course, a political calculus is also in play, and suddenly U.S. lawmakers have a slew of crypto bills and amendments to choose from. How will it play out?

Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.

Show highlights:

  • whether the SEC is going to appeal the recent Ripple ruling and whether Judge Analisa Torres would allow it
  • what the risks are for the SEC of taking the case to the Second Circuit
  • why Bill believes that the SEC’s chances are not good at the Supreme Court
  • what the motivation is behind the new DeFi bill in the U.S. Senate
  • how that bill would impact the different stakeholders in a DeFi project
  • why the crypto community should put its focus on the stablecoin and market structure bills first, according to Bill
  • how the SEC has been dropping lawsuits days prior to Congressional debates about crypto

Thank you to our sponsors!


  • Bill Hughes, senior counsel and director of global regulatory matters at ConsenSys.


Read the episode transcript here