XRP Lawyer States Best And Worst Outcomes In US SEC Vs Ripple Lawsuit
XRP News: The legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple Labs over the categorization of the XRP token will soon see its fate. However, John Deaton, the lawyer of XRP holders in the Ripple Lawsuit laid out the best and worst outcomes that might be announced ahead by US District Judge Analisa Torres.
Best Outcomes For Ripple
Attorney John Deaton, an Amicus Curiae in the XRP Lawsuit in a series of Tweets highlighted where and how Ripple can secure a win against US SEC.
The foremost outcome for Ripple and other defendants would be Judge slamming the US SEC for its overreach and the overall behavior in the XRP lawsuit. However, Judge Sarah Netburn has stated that the commission lawyers are hypocrites and lacked faithful allegiance to the laws.
Deaton added that the second best ruling would be the Judge rules that Ripple offered XRP as an investment contract (Security) in the XRP ecosystem but on a few specific occasions. However, XRP itself is not a security and with this ongoing and secondary sales are not securities. Read More XRP News Here…
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While, the third most favorable ruling would be that decides not to produce a summary judgment in any of the participants’ favor. However, the judge decides that jury must decide the disputed facts. However, will give the status quo to the parties for another year. This involves the judge stating that XRP is simple software code and the secondary sales recorded are not securities.
Also Read: Ripple CEO Calls In Congress To Take Notice Of US SEC Enforcements
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