Nothing

Test

Circuit

<p>The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/news/john-deaton-says-its-impossible-for-judge-torres-ruling-to-be-appealed/">John Deaton Says it’s Impossible for Judge Torres’ Ruling to be Appealed</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The courtroom buzz is palpable following District Judge Analisa Torres’ significant verdict in the SEC v. Ripple case. Many believed her ruling would be the dawn of clarity in the crypto sector. But instead, her decision has stirred the waters of legal discourse with legal experts voicing strong opinions on the matter.</p> 
<h2 id="the-xrp-ruling-will-not-be-overturned" data-name="the-xrp-ruling-will-not-be-overturned" class="wp-block-heading"><strong>The XRP Ruling Will NOT be Overturned</strong></h2> 
<p>In her groundbreaking decision, Judge Torres determined that Ripple’s previous institutional sales were investment contracts. However, she simultaneously clarified that the sales of the programmatic on digital platforms did not fall under securities, therefore XRP is not a security.</p> 
<p>This mixed judgment has led to an undercurrent of chatter suggesting potential overturned by higher courts if SEC were to appeal the ruling. Renowned cryptocurrency attorney and staunch XRP supporter, John Deaton, doesn’t share the widely speculated view.</p> 
<p>Speaking in a Twitter Space hosted by Uphold cryptocurrency exchange, Deaton highlighted Judge Torres’ impeccable track record. Emphasizing her depth and precision, he pointed out that none of her summary judgments have faced reversal upon appeal.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
   <p lang="en" dir="ltr">Nothing less then the facts, Judge Torre's has never been reserved on summary judgment. Listen here!<a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRP</a> <a href="https://t.co/V4OmfGCNI9" rel="noopener noreferrer nofollow">pic.twitter.com/V4OmfGCNI9</a></p>— RIZ.XRP 
   <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/2600.png" alt="☀" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@RizXRP) <a href="https://twitter.com/RizXRP/status/1688971289845764109?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 8, 2023</a> 
  </blockquote> 
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div> 
</figure> 
<p>He went on to explain her application of the Howey Test to every XRP sale under the SEC’s scanner. This meticulous process, according to Deaton, is the crux of her verdict’s strength.&nbsp;</p> 
<p>Drawing from this confidence, he even repeated that he is ready to bet a huge amount of money on the vouch that the Second Circuit will not meddle with Judge Torres’ ruling.</p> 
<h2 id="contrasting-opinions" data-name="contrasting-opinions" class="wp-block-heading"><strong>Contrasting Opinions</strong></h2> 
<p>But, as with every legal quandary, multiple perspectives exist. Not everyone seems to revere Judge Torres’ discernment, especially when drawing parallels with a separate SEC legal battle against Terraform Labs and its former CEO, Do Kwon.</p> 
<p>Despite the latter’s efforts to leverage the Ripple case’s findings, Judge Jed Rakoff disapproved of Torres’ approach, suggesting that the Howey Test doesn’t differentiate between types of buyers.</p> 
<p>However, Deaton remains undeterred. He swiftly highlighted that Rakoff’s judgments weren’t without their own share of overrules—citing an astonishing 56 instances of reversal by higher courts.</p>

John Deaton Says it’s Impossible for Judge Torres’ Ruling to be Appealed

Table of Contents

CoinPedia News

Autres articles publiés le 9 août 2023

Blackrock Stock Price Prediction: Can BLK Make A Comeback Again?

WisdomTree Reports Monthly Metrics for July 2023

Announcing the opening of DappOVEN project

Customer Service: The Key to Bridging the Crypto Divide for Seamless Global Adoption

JUST IN: Microsoft and Aptos to Collaborate on New AI Solutions

EOS Network Foundation urges community to reject $22 million settlement offer

Join our free newsletter for daily crypto updates!