The Outcome of the Coinbase Lawsuit Could Impact Ripple, Says Pro XRP Lawyer
The U.S. Securities and Exchange Commission (SEC) vs. Ripple Labs and SEC vs. Coinbase cases have caught the attention of the crypto community. Pro XRP lawyer John Deaton believes that the outcome of the Coinbase lawsuit could significantly affect Ripple’s fate.
The Torres Doctrine
Judge Torres recently ruled that XRP sales on crypto exchanges and by executives are not securities, which has been named the “Torres Doctrine.” Deaton predicts that Judge Failla, who is presiding over the Coinbase lawsuit, is likely to adopt this doctrine, which could invalidate a section of the SEC’s allegations against Coinbase.
SEC vs. Coinbase Lawsuit
Deaton sees the Coinbase case as potentially more pivotal because Coinbase argues that the SEC lacks the jurisdictional authority granted by the U.S. Congress. A victory for Coinbase could solidify the status of token sales and pave the way for the approval of spot Bitcoin ETFs.
Coinbase’s Impact on Ripple
If Judge Failla adopts the Torres Doctrine for Coinbase, it becomes increasingly likely that Ripple and the SEC will settle. This could put SEC Chairman Gary Gensler in a tough spot and potentially avoid a Supreme Court confrontation.
The Market’s Response and Conclusion
XRP’s market performance has remained stable amidst these legal developments, with the market closely observing but withholding any major moves. As the legal battles continue, the crypto community eagerly awaits the potential impact on Ripple and the broader regulatory landscape.
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