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Ripple VS SEC: John Deaton Finally Speaks Out!

Tue 07 Nov 2023 ▪ 3 min of reading ▪ by Ariela R.
Getting informed

The Ripple vs. SEC trial is arguably one of the most crucial in crypto history. The reason is straightforward: it could have significant implications on the legal status and regulation of digital currencies. According to John Deaton, the $20 million settlement signifies a 99.9% victory for Ripple in its lawsuit against the SEC.

Ripple crypto case
“The $20 million settlement symbolizes Ripple’s victory,” says John Deaton

Crypto Lawsuit SEC vs. Ripple: Origins of the Conflict

The trial between the SEC and Ripple began in December 2020 when the U.S. regulator accused the crypto company of illegally selling unregistered securities in the form of XRP, its digital currency. Ripple, of course, denies these accusations. It even asserts that XRP is a cryptocurrency like Bitcoin and Ethereum, not a security subject to SEC regulation.

Since then, the Ripple vs. SEC crypto case has seen many twists and turns with victories and setbacks for both sides.

Analysis by John Deaton

As a crypto specialist, John Deaton recently offered his perspective on the Ripple vs. SEC trial. He responded to a tweet from Ripple’s Chief Legal Officer, Stuart Alderoty, highlighting another legal setback for the SEC.

According to crypto expert Deaton, the outcome of the Ripple vs. SEC trial is far from a 50/50 result, as some have suggested. It is more of a 90/10 advantage in favor of Ripple.

“If Ripple were to end up paying $20 million or less, which is the usual amount of fines imposed by the SEC for minor infractions, it would be a 99.9% legal victory for Ripple

Deaton also maintains that the SEC has still not succeeded in proving that XRP was a security or in demonstrating that Ripple had violated securities laws. “The SEC instead harmed the crypto industry and XRP investors by filing an unfounded lawsuit,” he adds.

In any case, all indications suggest that Ripple is on the verge of scoring an overwhelming victory against the SEC. Moreover, it wouldn’t just be a triumph for Ripple but for the entire crypto sector.

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Ariela R. avatar
Ariela R.

Je m'appelle Ariela et j'ai 31 ans. J'oeuvre dans le domaine de la rédaction web depuis maintenant 7 ans. Je n'ai découvert le trading et la cryptomonnaie que depuis quelques années. Mais c'est un univers qui m'intéresse beaucoup. Et les sujets traités au sein de la plateforme me permettent d'en apprendre davantage. Chanteuse à mes heures perdues, je cultive aussi une grande passion pour la musique et la lecture (et les animaux !)

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.