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Crypto Lawyer: XRP vs SEC Settles Only After Judge Torres Decision

John Deaton says XRP vs. SEC would only settle after a decision from Judge Torres.The lawyer added that an exchange would be sued for selling unregistered securities.The Ripple...
Crypto Lawyer: XRP vs SEC Settles Only After Judge Torres Decision Crypto Lawyer: XRP vs SEC Settles Only After Judge Torres Decision
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  • John Deaton says XRP vs. SEC would only settle after a decision from Judge Torres.
  • The lawyer added that an exchange would be sued for selling unregistered securities.
  • The Ripple blockchain awaits a favorable decision from the US court this year.

Blockchain lawyer John Deaton recently aired his prediction about the crypto industry this year. Deaton declared that the multi-year legal battle between the Ripple blockchain (XRP) and the US Securities and Exchange Commission (SEC) would only settle after a decision from Judge Analisa Torres.

However, a few people misconstrued the lawyer. So he clarified that he meant a settlement that would eliminate any potential jury trial and appeal.

Deaton’s second prediction was that an exchange would be sued for selling unregistered securities, like in the case of XRP vs. SEC. He added that the current chairman of the SEC, Gary Gensler, would resign before 2023 ends.

In a tweet earlier this week, the crypto lawyer criticized Gensler for saying the Ethereum network token ETH could be considered a security contract under the Howey test. Notably, the Howey test determines whether an asset qualifies as an investment contract, subjecting it to federal security laws.

Gensler had claimed that proof-of-stake blockchains, such as Ethereum, Cardano (ADA), and Solana (SOL), could pass the Howey test. Under the test, a purchase is considered an investment contract if investors pledge their money to fund an enterprise to make profits from its efforts.

However, Deaton argued differently, stating that staking involves third parties independent of the investment promoter.

After Ripple filed a 65-page reply to the SEC’s opposition last month, its General Counsel, Stuart Alderoty, declared that the filing marked the ultimate submission in the legal battle. Therefore, what remained was the final ruling from the court favoring Ripple.

The post Crypto Lawyer: XRP vs SEC Settles Only After Judge Torres Decision appeared first on Coin Edition.

See original on CoinEdition

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01-12-2023 11:15:58 (UTC+7)

EUR/USD

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EUR/USD

1.0900

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USD/JPY

148.11

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    EUR/USD 1.0900 ↑ Sell  
    GBP/USD 1.2635 Neutral  
    USD/JPY 148.11 Sell  
    AUD/USD 0.6604 ↑ Sell  
    USD/CAD 1.3549 ↑ Buy  
    EUR/JPY 161.44 Neutral  
    EUR/CHF 0.9538 Neutral  
    Gold 2,040.30 ↑ Sell  
    Silver 25.290 Sell  
    Copper 3.8492 Sell  
    Crude Oil WTI 75.85 ↑ Buy  
    Brent Oil 80.59 Buy  
    Natural Gas 2.796 ↑ Sell  
    US Coffee C 185.65 ↑ Buy  
    Euro Stoxx 50 4,381.15 ↑ Sell  
    S&P 500 4,567.80 ↑ Buy  
    DAX 16,215.43 ↑ Sell  
    FTSE 100 7,453.75 Buy  
    Hang Seng 16,926.00 ↑ Sell  
    Small Cap 2000 1,807.15 ↑ Buy  
    IBEX 35 10,058.20 ↑ Sell  
    BASF 42.685 ↑ Sell  
    Bayer 31.36 ↑ Buy  
    Allianz 230.60 ↑ Buy  
    Adidas 192.14 ↑ Sell  
    Lufthansa 7.980 ↑ Buy  
    Siemens AG 154.00 ↑ Buy  
    Deutsche Bank AG 11.426 ↑ Buy  
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# So hôm qua # Chênh TG
SJC Eximbank7,240/ 7,340
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