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Ripple's $20 million settlement can be considered a 99.9% win for the company
06/11/2023
Prominent cryptocurrency lawyer John Deaton has shared his perspective on the lawsuit between the U.S. Securities and Exchange Commission (SEC) and Ripple. According to Deaton, a settlement of $20 million or less would be a significant legal victory for Ripple.
In a recent Twitter post (X), Deaton strongly disagreed with the idea that the lawsuit's outcome is a 50/50 situation. He believes that Ripple has a 90/10 advantage. Deaton's comments were prompted by an article from Ripple's Chief Legal Officer, which highlighted another legal setback for the SEC.
Deaton's viewpoint aligns with the sentiment in the cryptocurrency community, which generally views the proposed $20 million settlement as a favorable resolution for Ripple. The lawsuit originated from the SEC's allegations of an unregistered securities offering by Ripple involving XRP. It has undergone significant developments and a reduction in charges against Ripple executives.
Judge Analisa Torres has approved an order for a joint briefing schedule to address institutional sales of XRP. This aspect of the lawsuit pertains to the violation of securities laws.
Resource: https://cointelegraph.com/news/crypto-lawyer-says-20m-settlement-is-win-for-ripple
