Judge Likely to Reject SEC Appeal, Says Attorney
Attorney John Deaton predicts that Judge Analisa Torres will reject the SEC’s interlocutory appeal against the ruling favoring Ripple’s XRP. Deaton believes there is a likelihood the judge will deny the SEC’s motion and force them to file a complete appeal, which would likely take place in late 2024 or even later. Deaton had previously supported Judge Torres, stating that she made her decision by applying the Howey test to each charge brought against Ripple by the SEC. Additionally, Deaton discussed qualified immunity at the onXDC conference, stating that it makes it challenging to hold regulators accountable for their actions.
Key Points:
- Judge Analisa Torres is likely to reject the SEC’s interlocutory appeal against the ruling favoring Ripple’s XRP.
- The judge may deny the motion and force the SEC to file a complete appeal.
- Deaton supports Judge Torres and believes she applied the Howey test to each charge brought against Ripple by the SEC.
- Deaton discussed qualified immunity, which makes it challenging to hold regulators accountable for their actions.
- Evidence of negligence on the part of SEC officials is crucial to overcome qualified immunity.
Hot Take:
If Deaton’s prediction is correct and Judge Torres rejects the SEC’s appeal, it could significantly delay any further legal action against Ripple’s XRP. This prolongation of the case may have implications for the broader crypto industry, as it could influence regulatory clarity and investor sentiment. The topic of qualified immunity, raised by Deaton, raises questions about accountability and the effectiveness of oversight in the regulatory landscape. Overall, the outcome of this appeal could have significant repercussions for both Ripple and the crypto market as a whole.
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