John Deaton, a well-known XRP supporter, and attorney, is confidently backing a Ripple win over the Securities and Change Fee’s (SEC) influence.
Deaton cited a lengthy thread that described the logical approach Decide Analisa Torres took in her decision, which he sees as a solid basis for an adverse outcome for the SEC.
Deaton stated, “She used the Howey test on every sale type selected and specified by the SEC. I’m willing to venture a guess that she doesn’t lose important funds because of enchantment.
The thread, which was written by Australian attorney and ardent supporter of digital assets Invoice Morgan, makes a strong argument. Decide Torres made the decision to look into each of the three groups that the SEC had divided Ripple’s XRP sales into. The judge found significant differences between the classes, noting in particular that institutional customers signed contracts with Ripple rather than programmatic sales customers.
The thread finished by claiming that traders had “totally different expectations within the very totally different set of details within the completely different classes of Ripple gross sales and provide the SEC formulated.” As a result, the attorney does not perceive any flaw in the judge’s justification.
However, several recent events have raised questions about Deaton’s prognosis. According to U.Right This, U.S. District Judge Jed Rakoff, who is in charge of the SEC case against Terraform Labs, criticized a tactic used in Decide Torres’ decision. This makes the forthcoming SEC enchantment somewhat unpredictable.
Meanwhile, SEC Chair Gary Gensler has stated that a challenge to the Ripple case decision is being carefully considered. Gensler’s claim does not guarantee an appeal, but it does show that the SEC has not admitted a partial victory in the case.
