XRP Lawyer Shares Insights on SEC vs. Ripple Lawsuit
Pro-XRP lawyer John Deaton, who represents around 75,000 XRP holders, provides updates on the ongoing SEC vs. Ripple lawsuit. In response to a question from an XRP holder, Deaton shares his opinion on the potential outcome of the case.
- If the SEC wins, there will be a period of status quo for 2-5 years.
- Ripple is likely to appeal to the Supreme Court and has a good chance of winning.
- If Ripple loses to the SEC, it may take years for any money to be collected, but only if Ripple loses on appeal.
- Being on the 75K list of XRP holders helps identify potential claims and does not waive any rights.
- The civil case is not expected to lead to a significant outcome.
Deaton believes that Ripple will ultimately win if the Supreme Court takes up the case. He also emphasizes that being on the XRP holder list does not hinder any potential monetary recovery.
It is important to note that being wrong about whether XRP is a security does not result in punishment if the courts rule otherwise. Additionally, if there were a fund allowing XRP holders to sell their holdings to the SEC or back to Ripple due to the civil lawsuit, being on the list would not be a hindrance.
Hot Take
The insights shared by XRP lawyer John Deaton provide reassurance to XRP holders, highlighting the potential outcomes of the SEC vs. Ripple lawsuit. While a win for the SEC could result in a period of status quo, Ripple’s chances of appealing to the Supreme Court and winning are promising. The importance of being on the XRP holder list is emphasized, as it aids in identifying potential claims without waiving any rights. Overall, the updates provided by Deaton offer valuable information and perspective for the XRP community.
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