As the Ripple (XRP) lawsuit reaches its conclusion, the XRP community continues to digest the outcome, particularly with insights from pro-crypto attorney John Deaton. Deaton has alleged that there was intentional misconduct by SEC lawyers, a claim that has sparked controversy within the community.
Deaton Alleges SEC Lawyer Misconduct in Ripple Case
According to John Deaton, the Ripple vs. SEC lawsuit was marred by what he describes as deliberate wrongdoing on the part of SEC lawyers. In a recent YouTube video, Deaton expressed that individuals involved in the case should be held accountable and face termination for their actions. His remarks have intensified the ongoing discussion about the SEC’s role in the lawsuit, which ended in a partial victory for both Ripple and the U.S. Securities & Exchange Commission.
Ripple Lawsuit Concludes with $125 Million Settlement
The legal battle concluded with Ripple agreeing to a $125 million settlement. However, the company requested a temporary stay on the financial portion of the ruling, and since then, no appeal has been filed by the SEC. The absence of an appeal has led to speculation within the XRP community about the future legal status of the cryptocurrency.
Legal Uncertainty for XRP Holders
One of the key concerns for XRP holders is whether the SEC will eventually appeal the ruling. If an appeal is filed, it could have significant implications for XRP’s legal classification. For now, XRP is not considered a security in secondary market transactions, but this could change if the SEC decides to challenge the decision made by Judge Analisa Torres.
In the final ruling, Judge Torres reaffirmed her decision from July 2023, which was seen as a favorable outcome for XRP in terms of its secondary market status.
XRP Market Reaction
At the time of writing, XRP is trading at $0.5833, down 2% on the day as investors continue to react to the unfolding developments surrounding the lawsuit.
