Who from Ripple or the Securities and Exchange Commission (SEC) will have the last word in the legal battle between them at the moment? It’s too early to tell, but attorney John Deaton has an idea of what might happen. Indeed, for this moderator of almost 75,000 XRP holders: Ripple holds the right end. It is no surprise that the man of law has just published in a Twitter thread a feeling of optimism. Because according to him, the arguments put forward so far by the SEC seem a bit far from reality. Moreover, so far, the SEC has not shown any proof of its claims, especially that the XRP token satisfies the three prongs of the Howey test.
Is the SEC about to lose its legal battle against Ripple?
A few days ago, the boss of Ripple, Brad Garlinghouseexpressed his optimism in the case that opposes his platform against the DRY. The CEO of the exchange showed confidence and even predicted that the lawsuit would end this year. He is obviously not the only one to believe in a victory for Ripple. In effect, John Deatonlawyer and moderator of almost 75,000 XRP holders, plays the confidence card. The man of law has just published a tweet in which he knocks out the argument of the SEC. It does not fail to point out that so far, the American regulator has still not managed to mount the proofs of its subsequent assertions.
John Deaton believes that Ripple has every chance because the SEC bases its argument on the fact that Ripple would have sold XRP to finance itself. To succeed, the financial policeman will therefore also have to convince that the entire XRP ecosystem is a joint venture. Finally, expert consensus predicts a jump in the crypto XRP if Ripple wins.
In sum, the verdict is not yet known, but John Dealon prophesies a certain victory for Ripple. In his communication on Twitter, he dismantles the argument of the SEC. He believes that the regulator does not have enough hard evidence to support his claims. And to stick the knife in the wound, he specifies that XRP satisfies the three parts of the Howey test, which is already a good sign. However, in the event of a victory, the US regulator will have more power and can continue its push to regulate the crypto industry. One thing is certain, before the last filing, the suspense remains intact and the verdict of this case will be closely scrutinized.
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