Ripple lawsuit: Pro-crypto attorney says there was intentional misconduct by SEC lawyers
- Ripple lawsuit may have ended, the XRP community continues to digest the developments with pro-crypto attorney John Deaton.
- Deaton says there was intentional misconduct by SEC lawyers and people should be fired for it.
- XRP erases 1% value on Sunday, trades above $0.58.
Ripple (XRP) lawsuit ended with a ruling that was considered a partial victory for both parties, the Securities & Exchange Commission (SEC) and the payment remittance firm. The XRP holder community is digesting the final ruling with pro-crypto attorney John Deaton.
Ripple lawsuit had intentional misconduct by SEC lawyers
Ripple lawsuit outcome was $125 million settlement imposed on the payment remittance firm. The firm asked for a temporary stay on the financial part of the ruling and since then there has been no appeal from the US financial regulator’s side.
Pro-crypto attorney John Deaton said in a YouTube video that he believes there was intentional misconduct by SEC lawyers. Deaton says people should be fired because of the blatant misconduct in the Ripple vs. SEC lawsuit.
The statements come at a time when XRP community speculates whether there will be an appeal from the regulator. This is key to XRP holders since an appeal could make or break the legal clarity of the altcoin.
XRP is considered “not a security” in secondary market transactions. This could change, meaning XRP’s legal status as a security could change if SEC appeals the ruling by Judge Analisa Torres.
In the final ruling, Judge Torres upheld the XRP ruling from July 2023.
XRP trades at $0.5833 at the time of writing, down 2% on the day.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
