John Deaton Explains Potential Settlement Terms
In the context of the speculation around a possible settlement between Ripple and the US Securities and Exchange Commission (SEC), John Deaton, the attorney representing the thousands of XRP token holders, explained how the two parties may go about if they wish to settle.
Main Points:
- The outcome of the Coinbase Vs SEC lawsuit could be crucial to a potential settlement between Ripple and the SEC.
- If the judge grants Coinbase’s motion to dismiss, it would mean that token sales on the exchange do not fall under US securities laws.
- If the motion to dismiss is granted, the SEC would find it tough to get an appeal, making a settlement more likely.
- Ripple has opposed the SEC’s efforts to certify an interlocutory appeal, arguing that the agency deviated from the legal standpoint.
- The application of the Howey Test for XRP token sales is a key point of contention between Ripple and the SEC.
SEC’s Move To Certify Interlocutory Appeal
Ripple had previously opposed the SEC’s efforts to certify an interlocutory appeal, citing deviations from the legal standpoint. The company argues that the application of the Howey Test for XRP token sales is being mishandled by the agency.
Hot Take:
The outcome of the Coinbase Vs SEC lawsuit is likely to have significant implications for a potential settlement between Ripple and the SEC. If the motion to dismiss is granted, it would weaken the SEC’s position and increase the likelihood of a settlement. However, the SEC’s move to certify an interlocutory appeal suggests that they are determined to continue the legal battle. It remains to be seen how these developments will unfold and what they mean for XRP token holders.
By
By
By
By