{"id":38671,"date":"2025-01-24T11:18:46","date_gmt":"2025-01-24T11:18:46","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=38671"},"modified":"2025-01-24T11:18:46","modified_gmt":"2025-01-24T11:18:46","slug":"pro-xrp-attorney-outlines-3-possible-scenarios-for-the-ripple-v-sec-lawsuit","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=38671","title":{"rendered":"Pro-XRP Attorney Outlines 3 Possible Scenarios for the Ripple v. SEC Lawsuit"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

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John Deaton sees three possible outcomes for the Ripple case after Gensler\u2019s resignation: continuing the appeal, settling with a $125M fine, or a full dismissal \u2013 though the last one is unlikely.
\nTrump\u2019s positive crypto stance and recent policy moves could improve Ripple\u2019s chances, with Deaton believing a decisive victory for the company is just a matter of time.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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What Might Come Next?<\/h2>\n

Gary Gensler\u2019s tenure at the US Securities and Exchange Commission (SEC) might be over, but the lawsuit against Ripple remains ongoing. The former Chairman <\/span>resigned<\/span><\/a> on January 20 (the day Donald Trump officially became America\u2019s 47th President) and was replaced by Mark Uyeda.<\/span><\/p>\n

Gensler <\/span>was considered<\/span> an enemy of the cryptocurrency industry, while his successor <\/span>stands<\/span> in the opposite corner. Last year, Uyeda <\/span>criticized<\/span><\/a> the SEC\u2019s previous leadership for its negative stance on the sector:<\/span><\/p>\n

\u201cThe Commission\u2019s war on crypto must end, including crypto enforcement actions solely based on a failure to register with no allegation of fraud or harm.\u201d<\/span><\/p>\n

The XRP Army has interpreted the changes as a positive factor that could lead to a faster and potentially favorable resolution in the Ripple case. Most recently, John Deaton (an American lawyer representing thousands of XRP investors in the lawsuit) also <\/span>gave his two cents<\/span><\/a>.<\/span><\/p>\n

He believes there are now three possible scenarios. The first involves continuing the SEC\u2019s appeal. The securities regulator opposed<\/a> a verdict from 2023 when Judge Torres\u00a0<\/span>ruled<\/span><\/a> that XRP sales on public exchanges to retail investors did not constitute securities transactions.<\/span><\/p>\n

The second option is <\/span>a dismissal of the appeal<\/span>. According to him, this would require Ripple to pay the previously ordered $125 million penalty. <\/span>Recall<\/span> that Judge Torres <\/span>ruled<\/span><\/a> that the company should settle the amount due to violating certain rules.<\/span><\/p>\n

While the figure sounds substantial, it <\/span>actually<\/span> represents just a fraction of the $2 billion the watchdog initially <\/span>asked for<\/span>.<\/span> Somewhat <\/span>expected<\/span>, many Ripple proponents viewed the decision as a major victory, while some of the company\u2019s executives <\/span>promised<\/span><\/a> to respect the court\u2019s ruling.<\/span><\/p>\n

The third scenario seems like the most favorable (and most unlikely) for Ripple. According to Deaton, this includes the SEC withdrawing its appeal and scrapping the firm\u2019s $125 million fine.<\/span><\/p>\n

\u201cI don\u2019t see the SEC saying: \u201cNo, we\u2019re going to deny a judge\u2019s ruling.\u201d So that\u2019s why I think the middle one is the option.\u201d<\/span><\/p>\n

The SEC Looks Like the Underdog<\/span><\/h2>\n

Despite not outlining when the case might be officially over, Deaton believes Ripple\u2019s victory is just a matter of time. He based his thesis on the fact that the current President of the USA \u2013 Donald Trump \u2013 has completely changed his stance on the digital asset sector, planning to make the country the crypto capital of the world.\u00a0<\/span><\/p>\n

Last week, he doubled down on his supposed affection for the industry, <\/span>launching<\/span><\/a> a meme coin of his own. At first, the token, <\/span>called<\/span> Official Trump (TRUMP), experienced a spectacular price increase before heading south.<\/span><\/p>\n

Most recently, Trump <\/span>signed<\/span><\/a> an executive order to review the creation of a \u201cNational Digital Asset Stockpile.\u201d <\/span>His initial intention was to establish a strategic BTC reserve in the US, but now the effort\u2019s scope <\/span>seems to have<\/span> expanded to other cryptocurrencies, too.<\/span><\/p>\n

The post Pro-XRP Attorney Outlines 3 Possible Scenarios for the Ripple v. SEC Lawsuit<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR John Deaton sees three possible outcomes for the Ripple case after Gensler\u2019s resignation: continuing the appeal, settling with a $125M fine, or a full dismissal \u2013 though the last one is unlikely. Trump\u2019s positive crypto stance and recent policy moves could improve Ripple\u2019s chances, with Deaton believing a decisive victory for the company is […]<\/p>\n","protected":false},"author":0,"featured_media":38672,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-38671","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/38671"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=38671"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/38671\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/38672"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=38671"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=38671"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=38671"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}