In a recent court filing, the Securities and Exchange Commission (SEC) has submitted an “interlocutory appeal” to Judge Torres, overseeing the Ripple vs. SEC lawsuit. The appeal seeks the federal appeals court’s review of her July 13 ruling, which determined that Ripple’s XRP sales on public exchanges don’t violate securities laws.
The SEC’s move has stirred anticipation about the appeal’s outcome, leading to uncertainty over XRP’s future and concerns within the XRP community.
Clarifying XRP’s Security Status: John Deaton’s Insights
Amid the appeal, pro-XRP attorney John Deaton has countered misconceptions regarding XRP’s security status. He disputes an article’s claim that a majority of XRP transactions might be considered securities transactions, labeling it as fear-inducing.
Deaton strongly argues that the SEC’s statements don’t inherently define XRP’s status. He emphasizes that assuming XRP is a security solely due to the SEC’s stance is misleading.
He points out that Judge Torres already evaluated the SEC’s arguments and rejected them. Deaton highlights that the SEC’s interpretation of securities doesn’t align with legal principles, suggesting their claim lacks legal support.
Deaton’s stance underscores the necessity of legal rigor rather than assumptions in determining XRP’s classification.
SEC Appeal and Deaton’s Insights: A Legal Perspective
The SEC’s “interlocutory appeal” adds complexity to the Ripple vs. SEC case. Attorney John Deaton’s perspective challenges misconceptions, urging a closer examination of the legal underpinnings surrounding XRP’s security status.
As uncertainty lingers, legal precision emerges as the cornerstone for understanding XRP’s fate.
