Ripple vs. SEC Lawsuit: A $20 Million Victory Dance for Ripple?

Cryptocurrency Attorney Declares $20 Million Settlement a 99.9% Victory for Ripple

Crypto lawyer claims $20M settlement is near-complete victory for Ripple.

Hey there, digital asset investors! We’ve got some exciting news about Ripple and their ongoing battle with the United States Securities and Exchange Commission (SEC). Brace yourselves, because it looks like Ripple might be twirling their way to a major win!

According to prominent cryptocurrency attorney John Deaton, a settlement of $20 million or less would be a massive legal triumph for Ripple. And let’s face it, folks, in the world of lawsuits and legal jargon, a victory dance worth $20 million is definitely something to get excited about!

Now, you might be wondering, “But hold on a second, isn’t this whole lawsuit thing just a 50/50 toss-up?” Well, according to Deaton, that’s far from the truth. In fact, he’s boldly claiming that it’s more like a 90/10 advantage in favor of Ripple. Ouch! Looks like the SEC might be in for a surprise.

Deaton’s confidence in Ripple’s victory is not just a lone ranger opinion. The cryptocurrency community seems to be nodding along with his viewpoint. They view the suggested $20 million settlement as the ultimate positive resolution for Ripple. And who can blame them? A favorable outcome would not only mean a win for Ripple, but it could also have broader implications for the regulatory environment of digital currencies.

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But wait, folks, there’s more good news! Ripple’s chief legal officer, Stuart Alderoty, recently highlighted yet another legal setback for the SEC. It seems like the SEC just can’t catch a break. Alderoty pointed out that in the SEC vs. Govil case, the U.S. Court of Appeals for the Second Circuit ruled that the SEC can’t go around requesting substantial disgorgement without first proving actual harm to “investors.” In other words, no harm, no penalty. This setback for the SEC is like a slapstick comedy routine that just keeps getting funnier!

Let’s rewind a bit and refresh our memory on what started this whole legal drama. Back in December 2020, the SEC decided to throw a legal curveball at Ripple Labs, accusing them of conducting an unregistered securities offering by selling their native cryptocurrency, XRP. Talk about having a bone to pick!

But Ripple didn’t go down without a fight. And boy, did they fight hard! Eventually, Judge Analisa Torres determined that XRP wasn’t a security when traded on the secondary market, setting a precedent in the process. And that’s not all, folks. The charges against Ripple executives were also reduced. It’s like watching a legal thriller with countless plot twists!

But here’s the latest update: Judge Torres just gave the green light to the SEC and Ripple’s joint request for a briefing schedule. What does this mean? Well, it’s all about addressing those institutional sales of XRP that were deemed to have breached securities laws. The parties have until November 9 to provide a joint briefing schedule. It’s a ticking time bomb, and we can’t wait to see how it all unfolds!

So, dear readers, buckle up, because Ripple’s dance with the SEC might be coming to an epic finale. Will they emerge victorious? Only time will tell. But one thing’s for sure – this legal battle is a thrill ride full of unexpected twists and turns. Let’s grab some popcorn, sit back, and enjoy the show!

Oh, and don’t forget to let us know your thoughts on this Ripple vs. SEC rollercoaster in the comments below. We love hearing your opinions, and we might even feature them in our next article!

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