John Deaton, a well-known crypto lawyer, has predicted a major win for Ripple in its ongoing lawsuit with the US Securities and Exchange Commission (SEC).
Deaton expressed confidence in Ripple’s odds of victory, estimating a 90% chance of success in the legal battle against the SEC. He also stated that a settlement under $20 million would be a massive victory for the blockchain firm.
Since late 2020, Ripple and the SEC have been locked in a massive legal wrangle concerning the status of Ripple’s digital currency XRP. This conflict is a significant component of the broader regulatory struggle between the US and crypto companies.
Deaton’s remarks on the social media platform X reveal his belief and expectation that Ripple will prevail in the lawsuit. He emphasized that a settlement of $20 million or less would be an extraordinary win for the digital asset company.
He stated, “The people who’ve argued that the SEC got a 50-50 victory in the Ripple case are [100%] wrong. It was more like 90-10 in Ripple’s favor. If Ripple ends up paying $20 million or less, it’s a 99.9% legal victory.”
Earlier this year, Judge Analisa Torres ruled that XRP was not a security, significantly reducing charges for Ripple executives and sending a wave of optimism throughout the industry. This has led many to anticipate an imminent victory for Ripple.
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