{"id":178570,"date":"2023-10-21T15:45:39","date_gmt":"2023-10-21T10:15:39","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=178570"},"modified":"2023-10-21T15:45:39","modified_gmt":"2023-10-21T10:15:39","slug":"john-deaton-weighs-on-secs-possible-appeal-and-rationale-in-xrp-lawsuit-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/john-deaton-weighs-on-secs-possible-appeal-and-rationale-in-xrp-lawsuit-crypto-news\/","title":{"rendered":"John Deaton Weighs On SEC’s Possible Appeal And Rationale In XRP Lawsuit – Crypto News"},"content":{"rendered":"

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With the growing debate around whether the U.S. Securities and Exchange Commission (SEC) is now entitled to appeal immediately, Pro-XRP attorney John Deaton<\/strong> agrees that the SEC can appeal soon now, but \u201cThere will be no immediate appeal. Finally, the SEC didn\u2019t dismiss this case because it wanted to get to a faster appeal.\u201d<\/p>\n

Pro-XRP Lawyer Deaton Explains Whether SEC Can Appeal Immediately<\/h2>\n

John E. Deaton on October 21 joined the crypto community\u2019s discussion on whether the U.S. SEC can appeal against Ripple immediately after it dropped charges against Ripple executives. The rationale behind the SEC\u2019s move to drop charges against Ripple CEO Brad Garlinghouse and executive chairman Chris Larsen.<\/p>\n

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With the SEC voluntarily dismissing claims against Ripple CEO Brad Garlinghouse and executive chairman Chris Larsen, the trial scheduled for April 2024 will not happen, said<\/a> Deaton. He added that the penalty phase of the case must finish first for a possible appeal by the SEC.<\/p>\n

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\u201cAlthough Ran is correct that an appeal by the SEC will happen sooner because the SEC chose to dismiss the case against <\/span>@bgarlinghouse<\/span> and <\/span>@chrislarsensf (because the April 2024 trial will now not happen), it is incorrect to say the SEC can appeal immediately.\u201d<\/span><\/p>\n<\/blockquote>\n

Citing the LBRY lawsuit<\/a> as an example, Deaton highlighted that the summary judgment decision was announced in November 2022. The appeal to judgment became only possible after 8 months of the ruling. Thus, LBRY filed an appeal<\/a> on September 7, after additional discovery, including interrogatories, and requests for production of documents. The SEC reduced the fines from $23 million to $130K.<\/p>\n

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In the Ripple lawsuit, the SEC eyes $770 million. Deaton believes Ripple will argue ODL transactions should be exempt, along with legitimate business costs.<\/p>\n

However, an immediate appeal by the SEC is not likely to happen. The regulator dismissed the case for failing to prove Ripple executives\u2019 aided and abetted charges. \u201cThe witness list of subpoenas for certain individuals to testify was going to be interesting, said Deaton.\u201d<\/p>\n

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Read More: US SEC Can Appeal Against Ripple, But Not Until Next Year<\/a><\/strong><\/p>\n

Will Ripple Settle on Institutional Sales of XRP?<\/h2>\n

With the scheduled trial on the SEC claim against Ripple executives now invalid, Ripple\u2019s attorney sent a letter to Judge Torres<\/a> for a potential briefing schedule on pending issues after November 9.<\/p>\n

Ripple seeks remedies for its Section 5 of security laws violations with respect to its institutional sales of XRP. The odds of a settlement seem higher amid the latest developments. However, the company will challenge the SEC regarding its lack of authority to regulate the crypto industry.<\/p>\n

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Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry. <\/p>\n<\/p><\/div>\n

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

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With the growing debate around whether the U.S. Securities and Exchange Commission (SEC) is now entitled to appeal immediately, Pro-XRP attorney John Deaton agrees that the SEC can appeal soon now, but \u201cThere will be no immediate appeal. Finally, the SEC didn\u2019t dismiss this case because it wanted to get to a faster appeal.\u201d Pro-XRP […]<\/p>\n","protected":false},"author":2,"featured_media":154973,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-178570","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/178570","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=178570"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/178570\/revisions"}],"predecessor-version":[{"id":178572,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/178570\/revisions\/178572"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/154973"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=178570"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=178570"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=178570"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}