<p>Appearing on CryptoLawUS TV, lawyer <strong>John E Deaton</strong> shared his <a href="https://twitter.com/JohnEDeaton1/status/1717326730438807971?t=Us_DtqoqNBxazrWwdQSg8Q&amp;s=19" target="_blank" rel="nofollow">thoughts</a> on the ongoing Ripple vs SEC lawsuit. <strong>Deaton</strong> does not believe there have been any serious settlement talks between Ripple executives Brad Garlinghouse and Chris Larsen and the SEC.</p> 
<h2 class="wp-block-heading" id="no-end-in-sight-for-lawsuit">No End in Sight for Lawsuit</h2> 
<p>The SEC is seeking $770 million in disgorgement from Ripple and appears unwilling to settle at this time, according to <strong>Deaton</strong>. He believes the SEC wants to make an example of Ripple due to being “pissed and embarrassed” over the prolonged legal battle.</p> 
<p><strong>Deaton</strong> explained that the penalty phase of the case will be like a second trial, requiring more depositions, interrogatories, and document discovery. Ripple aims to drastically reduce the $770 million figure by excluding certain transactions and expenses from the calculation.</p> 
<h2 class="wp-block-heading" id="potential-for-reduced-disgorgement">Potential for Reduced Disgorgement</h2> 
<p>In a follow-up post, <strong>Deaton</strong> <a href="https://twitter.com/JohnEDeaton1/status/1717326732934443281" target="_blank" rel="nofollow">expressed</a> optimism that Ripple will succeed in greatly lowering the $770 million disgorgement amount. He noted this is not a fraud case, but rather a dispute over whether <a class="wpil_keyword_link" href="https://captainaltcoin.com/ripple-xrp-price-prediction/" title="XRP" data-wpil-keyword-link="linked" target="_blank">XRP</a> transactions qualified as unregistered securities sales.</p> 
<p><strong>Deaton</strong> pointed to government agencies classifying XRP as a virtual currency, not a security, during the 2013-2019 timeframe. He also cited SEC staff being permitted to trade XRP themselves until 2019. With these facts, <strong>Deaton</strong> believes Judge Torres will reach an appropriate fine based on lack of clarity around XRP’s status, not try to<em> ‘hurt Ripple.’</em></p> 
<p>The lawyer provided an insightful update on the drawn-out Ripple vs SEC battle. With both sides digging in, the lawsuit may continue well into 2024 unless a pivotal event changes the landscape. But <strong>Deaton</strong> sees a reasonable chance for Ripple to mitigate the SEC’s massive disgorgement request.</p> 
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<p>The post <a rel="nofollow" href="https://captainaltcoin.com/lawyer-updates-xrp-vs-sec-outlook-explains-why-the-judge-wont-hurt-ripple/">Lawyer Updates XRP vs. SEC Outlook, Explains Why the Judge Won’t “Hurt Ripple”</a> appeared first on <a rel="nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Lawyer Updates XRP vs. SEC Outlook, Explains Why the Judge Won’t “Hurt Ripple”

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