{"id":191470,"date":"2023-11-11T00:12:03","date_gmt":"2023-11-10T18:42:03","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=191470"},"modified":"2023-11-11T00:12:03","modified_gmt":"2023-11-10T18:42:03","slug":"john-deaton-predicts-ripples-sec-fine-will-be-much-lower-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/john-deaton-predicts-ripples-sec-fine-will-be-much-lower-crypto-news\/","title":{"rendered":"John Deaton Predicts Ripple’s SEC Fine Will Be Much Lower – Crypto News"},"content":{"rendered":"

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Attorney<\/span> John Deaton<\/span><\/a>, representing XRP holders, has recently presented a compelling argument regarding the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC). Deaton asserts that Ripple will <\/span>unlikely face the speculated $770 <\/span><\/a>million disgorgement. He bases this prediction on several key factors that might significantly influence the court\u2019s decision.<\/span><\/p>\n

Deaton Challenges SEC Over Ripple Sales<\/strong><\/h2>\n

Deaton highlights the Supreme Court\u2019s Morrison ruling, which essentially excludes sales outside the United States from SEC\u2019s reach. This is particularly relevant as Ripple\u2019s XRP sales in the United Kingdom, Japan, Switzerland, and other regions are under scrutiny. Moreover, the legal status of XRP in these countries further strengthens Ripple\u2019s position. For instance, the U.K.\u2019s Financial Conduct Authority (FCA) and Japan\u2019s Financial Services Agency (FSA) do not classify XRP as a security. This classification plays a pivotal role, allowing XRP sales to continue legally in these jurisdictions, challenging the SEC\u2019s claim for disgorgement from these international sales.<\/span><\/p>\n

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Furthermore, Deaton emphasizes that the case against Ripple is not a fraud but rather a regulatory dispute. This distinction is crucial as it shifts the focus from punishment to compliance. With most XRP sales occurring outside the U.S. and to accredited investors, the scope for disgorgement narrows considerably. Deaton estimates that the potential disgorgement amount diminishes significantly after excluding non-U.S. sales, which might account for over 90% of total sales and sales to accredited investors.<\/span><\/p>\n

SEC Faces Criticism from XRP Holders<\/strong><\/h2>\n

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The attorney also points out the absence of harm in most institutional sales of XRP, noting that the current price of XRP is higher than during these sales. This observation suggests that investors have not suffered losses. Additionally, Deaton remarks on the nature of On-Demand Liquidity (ODL) transactions involving XRP, which occur in seconds, further diminishing the likelihood of investor harm. In a unique twist, the harm accusations are directed more at the SEC than Ripple, especially among the <\/span>75,000 XRP holders<\/span><\/a> who joined the lawsuit.<\/span><\/p>\n

Read Also:<\/b> Poloniex Losses Within \u201cManageable Limits\u201d \u2013 Justin Sun<\/span><\/a><\/p>\n

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Maxwell is a crypto-economic analyst and Blockchain enthusiast, passionate about helping people understand the potential of decentralized technology. I write extensively on topics such as blockchain, cryptocurrency, tokens, and more for many publications. My goal is to spread knowledge about this revolutionary technology and its implications for economic freedom and social good. <\/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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Attorney John Deaton, representing XRP holders, has recently presented a compelling argument regarding the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC). Deaton asserts that Ripple will unlikely face the speculated $770 million disgorgement. He bases this prediction on several key factors that might significantly influence the court\u2019s decision. Deaton […]<\/p>\n","protected":false},"author":2,"featured_media":177117,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[192,29,198,194,195,199,196,193,197,200],"class_list":["post-191470","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-blockchain-business","tag-business","tag-coins","tag-crypto-business","tag-cryptocurrency-business","tag-fiat","tag-metaverse-business","tag-nft-business","tag-token","tag-token-business"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/191470","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=191470"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/191470\/revisions"}],"predecessor-version":[{"id":191479,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/191470\/revisions\/191479"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/177117"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=191470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=191470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=191470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}