The ongoing legal battle between blockchain company Ripple and the United States Securities and Exchange Commission (SEC) continues to emerge as a pivotal moment for the cryptocurrency industry.
While the digital asset market experiences remarkable growth, the outcome of this high-profile lawsuit holds major implications for the regulatory board.
Legal expert John Deaton recently shared insights that have stirred optimism within the crypto space regarding the lawsuit’s outcome.
According to John Deaton, a settlement of $20 million or less in the case would represent a substantial legal victory for Ripple. This perspective seems to resonate with many in the crypto community who view such a settlement as a positive development.
Moveover, Deatons viewpoint comes in response to a recent post by Ripples’s Chief Legal Officer, Stuart Alderoty, who highlighted a series of legal setbacks for SEC.
Recently the U.S. Court of Appeals for the Second Circuit Ruled that SEC cannot pursue substantial disgorgement penalties without demonstrating actual financial harm to investors. In essence, this means that if no harm is proven, there should be no penalties imposed by SEC.
Deaton further commented that the Lawsuit leans heavily in favor of Ripple, with a 90/10 advantage, further boosting confidence in Ripple’s position as the legal proceedings continue.