John Deaton Predicts Ripple’s Victory in SEC Appeal
Popular XRP advocate and attorney John Deaton is confident that Ripple will emerge victorious in its appeal against the SEC. Deaton, the Managing Partner of ‘The Deaton Law Firm,’ is even willing to bet big on the exchange’s success.
Main Breakdowns:
- Belief in Ripple’s Appeal Victory
- Judge Torres’ Summary Judgment Decision
- Judge’s Classification of XRP Sales
- Differences in Institutional Sales and Programmatic Sales
- Deaton’s Confidence in Judge Torres’ Decision
Deaton’s confidence in Ripple’s appeal victory is based on his belief that Judge Torres did not differentiate between XRP sales arbitrarily. According to him, the judge carefully considered each sale and applied the Howey test, which led to the classification of institutional sales as securities but not programmatic sales on virtual exchanges.
However, recent developments, such as US District Judge Jed Rakoff rejecting a similar approach in another SEC lawsuit, have created uncertainty. SEC Chair Gary Gensler has also hinted at the possibility of an appeal. While Deaton remains optimistic, the outcome of Ripple’s appeal against the SEC remains unpredictable.
Hot Take:
While John Deaton’s confidence in Ripple’s appeal victory is admirable, it is important to consider the unpredictability of the outcome. The rejection of a similar approach by another judge and the potential appeal by the SEC indicate that the case is far from over. Crypto readers should stay informed and cautious about making any definitive predictions.
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