Ripple vs SEC: Legal Expert Warns Adverse Ruling in Lawsuit Would Be Catastrophic for Crypto Industry

A legal expert warns an unfavorable ruling in the U.S. Securities and Exchange Commission (SEC) lawsuit against Ripple would be bad for crypto. Deaton Law Firm managing partner John E. Deaton says the outcome of the SEC lawsuit alleging that XRP is a security will determine whether nearly all other existing altcoins are securities. “Considering Congress is not going to provide regulatory clarity (especially in an election year on the heels of the Supreme Court overturning Roe v. Wade), the ruling by Judge Analisa Torres in the Southern District of New York will decide whether the SEC has jurisdiction