Search
Search
Ripple News: Crypto Attorney Asserts $20 Million Settlement

Crypto Attorney Asserts $20 Million Settlement Represents Overwhelming Victory for Ripple

121 Listen to this article Ripple’s Legal Victory: A 90/10 Advantage in Favor John Deaton, a prominent cryptocurrency attorney, has […]

Latest News

Listen to this article

John Deaton, a prominent cryptocurrency attorney, has weighed in on the ongoing legal battle between the United States Securities and Exchange Commission (SEC) and Ripple. According to Deaton, a potential settlement of $20 million or less would represent a significant legal victory for Ripple.

In a recent statement shared on X (formerly Twitter), Deaton strongly dismissed the notion that the lawsuit’s outcome stands at an even 50/50 split between the SEC and Ripple. Instead, he asserted that it’s more of a 90/10 advantage in favor of Ripple. Deaton’s remarks were prompted by a post from Stuart Alderoty, Ripple’s Chief Legal Officer, who highlighted another legal setback for the SEC.

Read Also: XRP Sees a 176% Surge Amidst Price Recovery Efforts

Cryptocurrency Community’s Positive Outlook

Deaton’s perspective aligns with the prevailing sentiment in the cryptocurrency community, which generally sees the suggested $20 million settlement as a favorable resolution for Ripple. This assessment takes into account the potential ramifications of the XRP’s value decline, currently trading at $0.67, and the broader regulatory landscape for digital currencies.

SEC’s String of Defeats: Implications for Digital Currency Regulation

Stuart Alderoty’s post adds to the narrative by pointing out that the SEC has suffered another defeat, marking a series of setbacks. In the case of the SEC vs. Govil, the U.S. Court of Appeals for the Second Circuit ruled that the SEC cannot demand a substantial disgorgement award without first demonstrating actual financial harm to investors. In essence, this means that if no harm is proven, there will be no penalty.

Read Also:  Dubai Regulator Approves Ripple's XRP

The legal dispute between the SEC and Ripple began in December 2020 when the SEC initiated legal action against Ripple Labs. The SEC accused the company of conducting an unregistered securities offering through the sale of XRP, Ripple’s native cryptocurrency.

A significant turning point occurred when Judge Analisa Torres ruled that XRP was not a security when traded on the secondary market, setting a crucial precedent. Additionally, the case saw significant developments as charges against Ripple executives were reduced.

Recently, Judge Torres approved an order related to the SEC and Ripple’s joint request to propose a briefing schedule addressing institutional sales of XRP. This pertains to the segment of the XRP lawsuit where the company was found to have violated securities laws. Torres instructed the parties to submit a joint briefing schedule no later than November 9th.

For the Latest Crypto News follow the Coinography and Subscribe our YouTube channel or follow us on social media platforms like Twitter, Facebook, Instagram and LinkedIn.

Read Also:  Analyst Forecasts XRP to Reach New Record High of 1100%
0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

Get Latest Updates

Latest News

Web Stories

Latest News

0
Would love your thoughts, please comment.x
()
x
Scroll to Top
Shiba Inu Burn Spike Raises Price Over 1300% Impact Concerns GBTC ETF Hindering Bitcoin’s Path to $100,000 Bitcoin News Ethereum Futures ETF with 2x Leverage Filed by Defiance Pump.Fun Boosts Memecoin Market: $5.2M in 38 Days Charles Hoskinson Highlights Cardano’s Progress Despite Criticism Solana DEX Booms, InQubeta Presale Tops $13M Cryptocurrencies to Watch: 16 Promising Options for 2024 Crypto AI Trading Bots: Best Picks for 2024 Cardano’s Top 5 Tokens for April 2024 Investment Crypto Highlights: 12 Best Bitcoin and Crypto Casinos for 2024 Solana (SOL) Meme Coins Lead the Way in Current Rally Bitcoin Runes Heading to Magic Eden Post Ordinals Bet Success Dogwifhat (WIF) Climbs to 3rd Spot, Tops PEPE at $4 Coinbase Announces Exciting New Altcoin Listings Altcoin Picks: 3 Hidden Gems to Watch Out for in April Binance Won’t Go Bankrupt Even if All Users Initiate Withdrawals: CZ What is the difference between Crypto and Bitcoin? Discover 5 Top Meme Coins to Consider in 2024 Binance Access Blocked in Philippines Over Unlicensed Operations 15 Best Crypto Presales to Invest In For 2024