Game-Changing Victory: Ripple’s $20M Settlement Hailed as 99.9% Triumph by Crypto Legal Expert

"Renowned Legal Expert Challenges SEC's Claim of 50/50 Outcome in Ripple Lawsuit, Asserts Overwhelming 90/10 Advantage for Ripple"

In a recent post on X (formerly Twitter), John Deaton, the lawyer representing XRP holders in the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC), strongly refuted the idea that the lawsuit’s result was an even 50/50 outcome for the SEC. Deaton claimed that it’s closer to a 90/10 advantage in favor of Ripple. His remarks came in response to a post from Stuart Alderoty, Ripple’s chief legal officer, who highlighted another legal setback for the SEC.

The lawsuit, which was initiated by the SEC in December 2020, alleges that Ripple Labs and its executives, Brad Garlinghouse and Chris Larsen, conducted an unregistered securities offering by selling XRP tokens. Ripple has vehemently denied the allegations and has been fighting back in court.

Deaton’s argument is based on the recent developments in the case. He believes that the SEC’s case is weakening, while Ripple’s position is strengthening. One of the key turning points in the lawsuit was the court’s decision to grant Ripple access to the SEC’s internal communications regarding cryptocurrencies, including Bitcoin and Ethereum. This ruling was seen as a win for Ripple, as it could potentially expose inconsistencies in the SEC’s treatment of different digital assets.

Furthermore, Deaton pointed out that several high-profile figures within the legal and financial sectors have publicly expressed their support for Ripple. He cited a recent letter from a group of U.S. congressmen urging the SEC to provide clarity on the regulatory status of cryptocurrencies, including XRP. This letter, signed by 10 members of Congress, highlighted the potential negative consequences of the SEC’s lawsuit on innovation and investment in the crypto industry.

Deaton also highlighted the growing number of individual XRP holders who have filed a motion to intervene in the lawsuit. These holders argue that their interests are not being adequately represented by either Ripple or the SEC. By joining the case as intervenors, they hope to have a say in the outcome and ensure that their rights as XRP holders are protected.

Despite these positive developments for Ripple, the lawsuit is far from over. The court has yet to make a final ruling on whether XRP should be classified as a security. If the court ultimately sides with the SEC, it could have significant implications not only for Ripple but for the entire cryptocurrency industry. On the other hand, if Ripple is successful in defending its position, it could set a precedent for other digital assets and potentially lead to greater regulatory clarity in the space.

In the meantime, XRP holders and cryptocurrency enthusiasts are closely watching the case’s progress. The outcome of this lawsuit could have far-reaching consequences for the future of cryptocurrencies and their regulatory environment. As the legal battle continues, both Ripple and the SEC are leaving no stone unturned in their fight for victory.

Disclaimer: This article is for informational purposes only and should not be construed as legal or financial advice. The opinions expressed in this article are those of the author and do not necessarily reflect the views of Cointelegraph.

Martin Reid

Martin Reid

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