Deaton reacts to the imminent conclusion of the Ripple case against the SEC:
3 expected outcomes:
✅ 1. XRP considered a commodity.
According to him, the resolution would seriously consider XRP as a commodity, which could influence its future regulation.
This would mark a significant change from the commission's initial assertion about XRP.
✅ 2. Reduced fine
Secondly, Andrew suggested that the SEC would accept a significantly reduced fine compared to the amount the judge imposed on Ripple.
✅ 3. Legal precedent for cryptocurrency cases
Finally, Andrew suggested that the management of the Ripple case by the new leadership of the SEC could set an important precedent for cryptocurrency-related cases through the upcoming resolution.
Reaction from lawyers Deaton and Rispoli
It is worth mentioning that Andrew is not a supporter of XRP and has rarely made positive comments about the coin lately. He has frequently urged his followers to sell XRP for Bitcoin. The top Bitcoin advocate has also opposed the inclusion of the coin in the U.S. cryptocurrency reserve.
Given his stance against XRP, the recent suggestion that the Ripple case is approaching an imminent resolution has provoked reactions among XRP advocates, with responses from prominent legal experts John Deaton and Fred Rispoli.
Will the Ripple case conclude soon?
Meanwhile, several reports suggest that the lawsuit against Ripple is about to conclude. Eleanor Terrett, host of Crypto America, shared a similar opinion last week.
The pro-crypto journalist highlighted the August verdict as the main factor that delayed the resolution of the lawsuit.
$XRP #SECvsRipple