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Ripple and the U.S. Securities and Exchange Commission are seeking to end the XRP dispute - a lawyer sees a 70% chance of the judge approving the request.
A senior attorney specializing in cryptocurrencies predicted a 70% chance that the court would approve Ripple's and the SEC's request to resolve a major injunction and settle financial penalties.
Ripple and the SEC seek to lift the injunction - Deaton expects a 70% approval rate from the court.
Attorney and cryptocurrency advocate John E. Deaton stated on June 13 via the social media platform X that in the ongoing legal dispute over XRP between Ripple and the U.S. Securities and Exchange Commission (SEC), Judge Analisa Torres may grant the company's request for relief.
Ripple and the U.S. Securities and Exchange Commission (SEC) jointly proposed a request for a ruling to vacate a civil injunction currently restricting access to $125 million in escrow funds. Under the proposed terms, $50 million will be directed to the SEC, while the remaining $75 million will go back to Ripple. This proposal reflects a collaborative effort to resolve the long-standing dispute over XRP, aiming to clear up lingering legal and financial uncertainties. Deaton stated:
I believe there is a 70% chance that she will grant the required relief.
The lawyer expressed his disappointment that Ripple's legal team did not directly acknowledge the broader context of the SEC's enforcement behavior, including the recent appellate ruling that described the SEC's previous actions as 'arbitrary and capricious,' and the Debt Box case, where sanctions were imposed on SEC lawyers.
He pointed out that in the Ripple case, Judge Sarah Netburn previously criticized SEC lawyers for their 'lack of complete loyalty to the law.' He anticipated arguments citing legislative developments such as the CLARITY Act or the GENIUS Act to highlight the changing regulatory landscape.
Deaton confirmed that it would have been better for Ripple to highlight the potential competitive barrier it might face if the injunction continues, especially since banking partners and counterparties may prefer companies like Circle that operate without these legal constraints. He concluded that the request appears to hinge on a political shift in leadership, summarizing the implicit message of the legal memo as follows: 'Look, Your Honor, elections have consequences, and this is one of them.'
