A whirlwind of anticipation surrounds the SEC’s motion for an interlocutory appeal in the Ripple lawsuit. A leading voice in the crypto world, lawyer John Deaton, shared his forecasts on the unfolding saga, suggesting that the next steps for the SEC might involve more waiting than action.
The Ripple Case’s Next Turn
John Deaton, a crypto enthusiast and respected attorney, recently shed light on what he believes will be the outcome of the SEC’s interlocutory appeal motion in the Ripple lawsuit. Deaton’s insights suggest that Judge Analisa Torres, the overseeing authority in the lawsuit, might not be in favor of the SEC’s immediate appeal motion. This could leave the regulatory body waiting in the wings until the latter end of 2024 to present a comprehensive appeal in the Second Circuit.
Deaton, during his time on stage at the onXDC Live blockchain conference held in Texas, dived deep into the future trajectory of the lawsuit. The conference, spanning two days from August 25 to August 26, 2023, was buzzing with conversations around the legalities of digital currencies.
The Current Status of Ripple’s Case
The Ripple lawsuit has been under significant scrutiny since the SEC decided to challenge Judge Torres’ stance on Ripple’s sales strategies, particularly concerning the digital distribution of XRP on various platforms. But as Deaton was keen to highlight, the case, as it stands today, is devoid of any immediate appeal. In his words, the court has merely permitted the SEC to draft a motion, giving them the chance to request an interlocutory appeal. A subtle, yet crucial distinction for those closely monitoring the case’s progression.
As the crypto community hangs in the balance, awaiting further developments in this landmark case, Deaton’s predictions and clarifications shed light on the complexities and possible outcomes of the infamous Ripple-SEC debacle.
