Attorney John Deaton, representing XRP holders, has recently presented a compelling argument regarding the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC). Deaton asserts that Ripple will unlikely face the speculated $770 million disgorgement. He bases this prediction on several key factors that might significantly influence the court’s decision.
Deaton Challenges SEC Over Ripple Sales
Deaton highlights the Supreme Court’s Morrison ruling, which essentially excludes sales outside the United States from SEC’s reach. This is particularly relevant as Ripple’s XRP sales in the United Kingdom, Japan, Switzerland, and other regions are under scrutiny. Moreover, the legal status of XRP in these countries further strengthens Ripple’s position. For instance, the U.K.’s Financial Conduct Authority (FCA) and Japan’s Financial Services Agency (FSA) do not classify XRP as a security. This classification plays a pivotal role, allowing XRP sales
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