Pro-XRP Legal Expert Takes The Spotlight With Daring Ripple Vs SEC Settlement Theory

Name	Symbol	Market	Market Cap ($)	Algorithm
Ripple	XRPUSD	Crypto	31,714,913,302	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ripple

XRPUSD

Crypto

31,714,913,302

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.0432	8.03%	0.581	0.5809	0.581

Price Change

Price Change %

Current Price

Bid Price

Offer

0.0432

8.03%

0.581

0.5809

0.581

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.5946	0.5326	0.538	0.5378	0.382490 - 0.852600

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.5946

0.5326

0.538

0.5378

0.382490 - 0.852600

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	19:20:34	70.81	0.581	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

19:20:34

70.81

0.581

USD

Price x Volume	Volume	Base Symbol	Related Pairs
103,562,967.77	183,356,717.66	XRP	XRPEUR	XRPGBP	XRPBTC

Price x Volume

Volume

Base Symbol

Related Pairs

103,562,967.77

183,356,717.66

Pro-XRP Legal Expert Takes The Spotlight With Daring Ripple Vs SEC Settlement Theory

04/09/2023 10:30am

NEWSBTC

There have been talks about the US Securities and Exchange Commission (SEC) and Ripple Labs reaching a settlement following the ruling that XRP isn’t a security. Following this, Pro-XRP lawyer John Deaton has stated a key factor that could lead to a settlement between both parties. Coinbase’s Motion Key To Settlement In a tweet released on the X (formerly Twitter) platform, Deaton stated that the “only way” the SEC and Ripple can settle this year is if Judge Failla grants Coinbase’s motion to dismiss the SEC’s lawsuit against it. Related Reading: Shiba Inu Marketing Lead Sends Important Message To SHIB Holders The lawyer believes that the key is for Judge Failla to find that token sales on an exchange as part of a programmatic sale do not fall under US securities laws. If that happens, the Commission and its chair, Gary Gensler, may have no choice but to “pivot,” according to Deaton. He further noted that Judge Failla’s ruling may be final as he doubts the Solicitor General would allow an appeal as the case could end up reaching the Supreme Court, which could “strip away” the SEC’s powers and that of other federal agencies. The SEC had filed a lawsuit against Coinbase, alleging that the biggest crypto exchange in the US was operating as an unregistered securities exchange by offering several cryptocurrencies on its platform without first registering with the SEC. In response, Coinbase filed a motion to dismiss the case, stating that the regulator was stepping outside its jurisdiction with such an action. The exchange said the token sales weren’t investment contracts but more commodity sales, with “obligations on both sides discharged” once the transaction occurred. Interestingly, Coinbase cited Judge Torres’ ruling in favor of Ripple that programmatic sales, such as ones on exchanges, didn’t constitute investment contracts. XRP price remains volatile as legal battle continues | Source: XRPUSDT on Tradingview.com How Deaton’s Ripple Settlement Theory Could Play Out Going by Deaton’s theory, it is believed that the SEC would want to settle with Ripple if the court ruled that the Commission has no jurisdiction over token sales on exchanges. This is plausible because Judge Failla granting Coinbase’s request represents a setback for the Commission in its case against Ripple. The SEC argues that Ripple’s programmatic sales constituted an investment contract, making XRP a security. However, a win for Coinbase ultimately makes the programmatic sales argument baseless, and it can no longer further the argument since token sales on exchanges are outside its purview. Related Reading: New Job Listing Indicates What Ripple Is Focusing On Next Regarding the SEC and Gensler wanting to “pivot,” as mentioned by Deaton, this could mean the Commission solely focusing on Ripple’s sale to institutional investors, which the court ruled constituted an investment contract. Considering that the regulator still has a long way to go to prove which institutional sales were made to domestic investors (the only ones the SEC has jurisdiction over), it may settle with Ripple rather than prolong a case it may eventually lose. Featured image from Unsplash, chart from Tradingview.com

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