Ripple Faces Uncertainty After SEC Lawsuit Verdict
The recent verdict in the SEC lawsuit against Ripple has left both sides in disagreement. While Ripple won most of the cases, the SEC accused the company of selling XRP as an unregistered security. The confusion lies in the fact that buying XRP on platforms like Coinbase was not seen as promoting an unregistered security. Ripple may appeal the verdict, and there is a possibility of another trial in the future, making the situation complex.
Explanation of Current Status by Pro-XRP Lawyer
Pro-XRP lawyer John Deaton has shed light on the current status and why he believes the judge might deny the interlocutory appeal. Ripple disagreed with the ruling on one aspect related to their On-Demand Liquidity (ODL) platform. Ripple intended to address this during the remedies section of the trial. However, the SEC requested an interlocutory appeal, which Ripple opposed, arguing that it made no sense given the ongoing trial and other unresolved issues. Deaton confidently expressed his belief that the judge would deny the appeal, leading to further proceedings over the next few years.
Hot Take: Uncertainty Remains for Ripple’s Future
The SEC lawsuit against Ripple has created a complex and uncertain situation for the company. While Ripple won most of the cases, the accusation of selling XRP as an unregistered security remains. The disagreement between Ripple and the SEC regarding the verdict has led to the possibility of an appeal and potential trials in the future. Pro-XRP lawyer John Deaton believes the judge will deny the interlocutory appeal, prolonging the legal proceedings for years to come. Ripple’s future hinges on the outcome of these proceedings and the resolution of the regulatory issues surrounding XRP.
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