US attorney John E. Deaton, who is representing Ripple investors in the lawsuit against the Securities and Exchange Commission (SEC), believes that the regulator’s arguments are weak and that it will inevitably lose the case. He criticized the SEC’s claim that it wants faster adjudication than the Blockchain enterprise, calling it the “dumbest argument” he has heard. Deaton thinks that the SEC’s only option is to prolong its eventual loss by appealing the court’s decision whenever possible.
In July, Ripple won a partial victory when a US judge ruled that the company’s XRP sales did not constitute an offer of Investment contracts. This decision caused the price of XRP to increase by over 70%. However, the SEC appealed the ruling in early September. Deaton believes that even if the appeals are granted, it will not be enough for the SEC to win the case. He thinks that Judge Torres will once again rule in favor of Ripple by fully explaining her reasoning.
Deaton predicts that if the SEC’s appeal fails, it will take another year and a half to two years for the US Court of Appeals for the 2nd Circuit to rule on the issue. If the SEC were to win at the 2nd Circuit, the case would be remanded back to Judge Torres, who would apply the facts of the case to the other Howey factors.
According to Deaton, the SEC’s appeals are desperate tactics to delay the litigation. He believes that the regulator has lost the case and is using separate arguments from ongoing cases in its appeal process.
The outcome of the lawsuit between Ripple and the SEC is expected to have a significant impact on the price of XRP. Crypto analyst KALEO believes that the SEC’s appeal will fail, triggering a price rally for Ripple’s native token.
Overall, Deaton is confident that Ripple will emerge victorious in the legal battle, and the SEC’s appeals will not change the final resolution..
#ProXRP #Lawyer #Regulators #Dumbest #Argument
In July, Ripple won a partial victory when a US judge ruled that the company’s XRP sales did not constitute an offer of Investment contracts. This decision caused the price of XRP to increase by over 70%. However, the SEC appealed the ruling in early September. Deaton believes that even if the appeals are granted, it will not be enough for the SEC to win the case. He thinks that Judge Torres will once again rule in favor of Ripple by fully explaining her reasoning.
Deaton predicts that if the SEC’s appeal fails, it will take another year and a half to two years for the US Court of Appeals for the 2nd Circuit to rule on the issue. If the SEC were to win at the 2nd Circuit, the case would be remanded back to Judge Torres, who would apply the facts of the case to the other Howey factors.
According to Deaton, the SEC’s appeals are desperate tactics to delay the litigation. He believes that the regulator has lost the case and is using separate arguments from ongoing cases in its appeal process.
The outcome of the lawsuit between Ripple and the SEC is expected to have a significant impact on the price of XRP. Crypto analyst KALEO believes that the SEC’s appeal will fail, triggering a price rally for Ripple’s native token.
Overall, Deaton is confident that Ripple will emerge victorious in the legal battle, and the SEC’s appeals will not change the final resolution..
#ProXRP #Lawyer #Regulators #Dumbest #Argument
