After more than two years, the Ripple v. SEC litigation, which had been the talk of the cryptocurrency industry, has finally been resolved. In contrast to what the SEC has been arguing, Decide Analisa Torres has ruled in favour of Ripple and held that the sale of XRP shouldn’t be considered a safety. The outcome of this litigation has been used as a precedent by other cryptocurrency companies in their own cases. The SEC has made it known that it will likely appeal the ruling as a result.
There have been many predictions made about what the SEC will do with the influence this case will have. A pro-XRP attorney named John Deaton recently discussed how the Judges seem to comprehend the SEC on Twitter.
Judges’ Viewpoint SEC Wants to Influence the Attraction of the Ripple Lawsuit
Lawyer for Professional-XRP and pioneer of cryptocurrency regulation John Deaton has given his thoughts on how he believes judges view the SEC. This follows the SEC’s most recent hints that the Ripple lawsuit’s Decide Analisa Torres ruling would be intriguing.
Deaton’s tweet includes a remark from Stuart Alderoty who claimed that the SEC’s case and the decision made by their judge (Torres) will provide comfort to other courts, implying that the SEC is merely misinformed.
John Deaton further points out that, with the exception of the judge handling the LBRY case, every judge who has dealt with the SEC over cryptocurrency-related matters has criticised the SEC’s positions. He also implies that the SEC’s handling of digital assets made even the LBRY judge angry, as shown by their responses during a particular hearing on November 21, 2022.
Therefore, even if the SEC appeals, it is unlikely that they will succeed in getting a favorable decision because the judges have already criticized the regulator’s handling of cryptocurrency-related concerns.