John Deaton, prominent crypto lawyer and founder of Crypto Law, has once again shared his opinion on the ongoing lawsuit between Ripple Labs and the U.S. Securities and Exchange Commission ., the pro-XRP lawyer believes that a settlement of $20 million or less in the lawsuit between the crypto company and the U.S. regulator is a 99.9% legal victory for the former.
Recall that a few months ago, Judge Analisa Torres ruled that the secondary sales of XRP were not securities or investment contracts. While passing the verdict that gave Ripple its first landmark victory in the lawsuit, the judge also upheld the SEC’s arguments that selling the digital asset to institutions and sophisticated buyers violated securities law. The decision bolstered the agency’s claims of roughly $770 million from institutional XRP sales.
The judge has approved a joint request from the SEC and Ripple for a briefing to address the institutional sales of XRP.The outcome of Judge Torres’ ruling stirred mixed reactions in the crypto community, with some people saying that the SEC got a 50-50 victory in the lawsuit. On the other hand, Deaton’s stance resonates with the belief of a larger part of the community, which considers the proposed $20 million settlement a favorable resolution for the crypto company.
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