XRP Lawyer Hints at Ripple Winning SEC case With A Fine
Ripple XRP SEC: John Deaton, attorney for Ripple, believes that there is a good chance that the XRP SEC case will go to a jury trial. However, he also said that there was a possibility that XRP would win the lawsuit with a fine. Ripple and the U.S. Securities and Exchange Commission are currently awaiting summary judgment by the court. The SEC’s argument that XRP was sold as unregistered securities is the main issue in the case. The case dates back as far as December 2020, when Ripple was alleged to have illegally raised more than $1.3 billion.
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The XRP lawyer believes that the SEC has a slim chance of winning because Ripple offered XRP between 2013 and 2017. The argument is valid, but it must be corrected to clarify whether Ripple sold XRP as a security after that period. Deaton made these comments in response to claims Ripple sold XRP as a security-like instrument to users who needed it for cross-border payments. This is in contrast to the SEC’s view, which holds that the assets were sold as unregistered securities.
“I believe that the only victory for SEC was that Ripple offered XRP unregistered security from 2013-2017.”
Deaton states that Ripple could be granted a fine if the court accepts this argument. He believes that the chances of Ripple being tried by a jury are greater than most people think.
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According to CoinGape’s price tracker, XRP is currently at $0.400253, an increase of 5.58% over the past 24 hours.
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