Deaton reacts to the imminent conclusion of the Ripple v. SEC case:
3 expected outcomes:
✅ 1. XRP considered a commodity.
According to him, the ruling would seriously consider XRP as a commodity, which could influence its future regulation.
This would mark a significant shift from the commission's initial statement regarding XRP.
✅ 2. Reduced fine
Second, 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 new SEC leadership's handling of the Ripple case could set an important precedent for cryptocurrency-related cases through the upcoming ruling.
Reaction from attorneys Deaton and Rispoli
It's worth mentioning that Andrew is not a supporter of XRP and has rarely made positive comments about the currency lately. He has frequently urged his followers to sell XRP for Bitcoin. The leading Bitcoin advocate also opposed the coin's inclusion in the US cryptocurrency reserve.
Given his stance against XRP, the recent suggestion that the Ripple case is nearing an imminent resolution sparked reactions among XRP advocates, with prominent legal experts John Deaton and Fred Rispoli responding.
Will the Ripple case end soon?
Meanwhile, several reports suggest that the lawsuit against Ripple is nearing conclusion. Eleanor Terrett, host of Crypto America, shared a similar opinion last week.
The pro-crypto journalist highlighted the August verdict as the main factor delaying the lawsuit's resolution.