SEC Potential Appeal To Yield Little Effect On XRP, Crypto Lawyer Says
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Prominent Pro-XRP lawyer John E. Deaton has downplayed the potential effects of an appeal by the United States Securities And Exchange Commission (SEC) in its ongoing case against Ripple on the sale of the XRP token as an unregistered security. SEC Nudges At Possible Appeal Against Ripple Ruling On July 13, U.S. Judge Analisa Torres of the U.S. District Court for the Southern District of New York ruled that the programmatic sales of XRP did not violate U.S. securities law as the SEC cannot prove retail investors had expected profits from this investment based on the “entrepreneurial or managerial efforts
In a meticulously detailed letter to Judge Analisa Torres of the Southern District of New York, the US Securities and Exchange Commission (SEC) has delineated its grounds for seeking an interlocutory appeal against Ripple Labs Inc. This move, which has sent ripples (pun intended) through the XRP community, focuses on…
John Deaton, a pro-XRP lawyer, recently made some statements regarding the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC). Deaton believes that if Ripple loses to the SEC, no money may be collected for years, and only if Ripple loses on appeal. However, he also…
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