US SEC Has A Bad Precedent From XRP Lawsuit Judge Analisa Torres
Crypto Market News: Even as the crypto community awaits the summary judgment in the XRP lawsuit, an old court judgement ruling that went against the U.S. Securities and Exchange Commission (SEC) could give a lot of confidence to the XRP token holders. John Deaton, the attorney representing the more than 70,000 XRP token holders, said there could be a logical conclusion end to the lawsuit in the form of a settlement only in case if Ripple wins against the SEC.
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In a recent comment, Deaton said there will not be any chance for settlement if the SEC emerges victorious in the lawsuit. Meanwhile, Ripple Labs and its executives are confident of a win for XRP.
SEC Lost A Case Overseen By Judge Analisa Torres
In an interesting finding, the US SEC lost in a lawsuit overseen by Judge Analisa Torres, who is also now in charge of the XRP Vs SEC lawsuit. In 2019, the judge ruled against the regulatory agency in the SEC v. Rio Tinto lawsuit. When the SEC appealed, the appellate Court upheld the Judge’s decision, pointed attorney Jeremy Hogan. Hence, this forms an important precedent against the SEC by the same judge overseeing the Ripple lawsuit.
Also, the SEC could face a fresh challenge some time later in 2023 if the US Supreme Court goes for abolishing the Chevron Doctrine. Earlierm CoinGape reported that the top US court agreed to consider the proposal to look into the decision making powers federal agencies gain through the Doctrine.
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