{"id":549900,"date":"2023-09-04T09:30:42","date_gmt":"2023-09-04T09:30:42","guid":{"rendered":"https:\/\/uniquehot.com\/?p=549900"},"modified":"2024-06-11T07:55:29","modified_gmt":"2024-06-11T07:55:29","slug":"xrp-ripple-sec-settlement","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ripple\/xrp-ripple-sec-settlement\/","title":{"rendered":"Pro-XRP Legal Expert Takes The Spotlight With Daring Ripple Vs SEC Settlement Theory"},"content":{"rendered":"
There have been talks about the US <\/span>Securities and Exchange Commission<\/span><\/a> (SEC) and Ripple Labs reaching a <\/span>settlement<\/span><\/a> following the <\/span>ruling<\/span><\/a> that XRP isn\u2019t a security. Following this, Pro-XRP lawyer John Deaton has stated a key factor that could lead to a settlement between both parties.<\/span><\/p>\n In a <\/span>tweet<\/span><\/a> released on the X (formerly Twitter) platform, Deaton stated that the \u201conly way\u201d the SEC and Ripple can settle this year is if Judge Failla grants Coinbase\u2019s motion to dismiss the SEC\u2019s lawsuit against it.\u00a0<\/span><\/p>\n 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 \u201cpivot,\u201d according to Deaton.\u00a0<\/span><\/p>\n He further noted that Judge Failla\u2019s 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 \u201cstrip away\u201d the SEC\u2019s powers and that of other federal agencies.<\/span><\/p>\n The SEC had <\/span>filed <\/span><\/a>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.\u00a0<\/span><\/p>\n In response, <\/span>Coinbase<\/span><\/a> filed<\/span><\/a> 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\u2019t investment contracts but more commodity sales, with \u201cobligations on both sides discharged\u201d once the transaction occurred.<\/span><\/p>\n Interestingly, Coinbase cited Judge Torres\u2019 ruling in favor of Ripple that programmatic sales, such as ones on exchanges, didn\u2019t constitute investment contracts.\u00a0<\/span><\/p>\n <\/p>\n Going by Deaton\u2019s 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\u2019s request represents a setback for the Commission in its case against Ripple.\u00a0<\/span><\/p>\n The SEC argues that Ripple\u2019s programmatic sales constituted an investment contract, making XRP a security.\u00a0 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.\u00a0<\/span><\/p>\nCoinbase\u2019s Motion Key To Settlement<\/h2>\n
XRP price remains volatile as legal battle continues |\u00a0Source: XRPUSDT on Tradingview.com<\/a><\/pre>\n
How Deaton\u2019s Ripple Settlement Theory Could Play Out<\/h2>\n