<p>The post <a rel="nofollow" href="https://coinpedia.org/news/the-sec-vs-ripple-lawsuit-john-deaton-explains-why-a-quick-settlement-is-unlikely/">Ripple vs. SEC: $770M Penalty in Question, but Is a Settlement in Sight?</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> <iframe style="border-radius:12px" src="https://open.spotify.com/embed/episode/6gbLBxDTZDPSFeQdWQN5yc?utm_source=generator" width="100%" height="80" frameborder="0" allowfullscreen allow="autoplay; clipboard-write; encrypted-media; fullscreen; picture-in-picture" loading="lazy"></iframe> 
<p>In the <a href="https://coinpedia.org/news/ripple-vs-sec-a-deep-dive-into-the-ongoing-battle-and-key-issues-ahead/">SEC vs. Ripple</a> case, things have taken an unexpected turn, introducing more uncertainty. And just when we were thinking that all is well! </p> 
<p>John Deaton, a prominent pro-XRP lawyer and the founder of CryptoLawUS, has revealed new insights into this legal battle. You don’t want to miss this for sure. Read on!</p> 
<h2 class="wp-block-heading" id="h-beyond-the-courtroom">Beyond the Courtroom </h2> 
<p>According to <a href="https://coinpedia.org/news/xrp-lawyer-john-deaton-highlights-ripples-remarkable-growth-amidst-prolonged-lawsuit-against-sec/">John Deaton</a>, the SEC is “pissed and embarrassed,” it’s now out for what he refers to as “$770M worth of flesh.” It’s not just about determining whether XRP is a security; the SEC wants to make an example out of Ripple. </p> 
<p>Deaton reveals that the penalty phase is like a “second case” involving more depositions, interrogatories, requests for document production, and more.</p> 
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   <p lang="en" dir="ltr">I believe Ripple will be successful in cutting the $770M figure down drastically. This isn’t a fraud case. The goal is to reach an appropriate fine against Ripple for engaging in transactions that qualified as the sale of unregistered securities, but sold in the context of a new…</p>— John E Deaton (@JohnEDeaton1) <a href="https://twitter.com/JohnEDeaton1/status/1717326732934443281?ref_src=twsrc%5Etfw">October 25, 2023</a>
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<p>Read More: <a href="https://coinpedia.org/news/what-happened-after-ripples-historic-win-against-the-sec-10-million-invested-in-xrp/">What Happened After Ripple’s Historic Win Against the SEC? $10 Million Invested in XRP?</a></p> 
<p><strong>Negotiations are on</strong></p> 
<p>Ripple is determined to significantly reduce the SEC’s proposed $770 million penalty. They aim to exclude certain transactions and closely examine expenses and costs. Deaton compares this situation to a similar case involving the SEC and LBRY, which saw a substantial reduction in fines. </p> 
<p>This suggests that Ripple may have a strong chance of reducing the hefty penalty.</p> 
<h2 class="wp-block-heading" id="significance-of-coinbase-vs-sec">Significance of Coinbase vs SEC</h2> 
<p>John Deaton has identified January 17, 2024, as a crucial date in this legal battle. On this day, an oral argument on the <a href="https://coinpedia.org/news/coinbase-secures-victory-judge-grants-oral-arguments-in-sec-battle/">Coinbase</a> motion is scheduled. Deaton predicts that if Coinbase succeeds, it may force the SEC to rethink its strategy, potentially opening the door to a settlement with Ripple. If Coinbase loses, hopes for an agreement between Ripple and the SEC could diminish.</p> 
<p>Deaton points out the conflicting messages from various federal agencies regarding XRP’s classification. From meetings in 2013 to settlements in 2015, XRP’s status remains unclear. Deaton believes this ambiguity may work in Ripple’s favor as the case unfolds.</p> 
<h2 class="wp-block-heading" id="is-a-decision-coming-anytime-soon">Is A Decision Coming Anytime Soon?</h2> 
<p>Looking ahead, Deaton anticipates that a final judgment from Judge Torres may not arrive before late summer at the earliest. He also cautions that it could be a full year before an <a href="https://coinpedia.org/news/ripple-vs-sec-lawsuit-sec-could-file-another-charge-on-ripple-execs-if-wins-on-appeal/">appeal</a> is filed in this case. During this extended legal process, Ripple might face substantial legal fees reaching tens of millions of dollars.</p> 
<p>Also Read: <a href="https://coinpedia.org/news/ripple-v-sec-lawsuit-update-court-issues-new-order-next-step/">SEC vs. Ripple: What to Expect Next in the Remedies Phase?</a></p>

Ripple vs. SEC: $770M Penalty in Question, but Is a Settlement in Sight?

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