{"id":125406,"date":"2025-03-19T17:21:40","date_gmt":"2025-03-19T17:21:40","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=125406"},"modified":"2025-03-19T17:21:40","modified_gmt":"2025-03-19T17:21:40","slug":"sec-dropping-ripple-case-is-final-exclamation-mark-that-xrp-is-not-a-security-john-deaton","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=125406","title":{"rendered":"SEC dropping Ripple case is \u2018final exclamation mark\u2019 that XRP is not a security \u2014 John Deaton"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsThe US Securities and Exchange Commission dropping its appeal against Ripple is the \u201cfinal exclamation point that these [XRP] tokens are considered digital commodities, not securities,\u201d crypto lawyer John Deaton told Cointelegraph.<br \/>\nDeaton added that there is still a $125-million judgment against Ripple over the improper selling of the XRP (XRP) cryptocurrency, which perhaps the company can negotiate down now that the SEC has dropped its appeal.<br \/>\nDeaton is a well-known lawyer who represented XRP holders, arguing that their interests were not being represented in the SEC\u2019s case against Ripple. He\u2019d later run against Elizabeth Warren, a vocal crypto critic, for a senate seat to represent Massachusetts in Washington, DC.<br \/>\nRelated: Why is the Ripple SEC case still ongoing amid a sea of resolutions?<br \/>\nWill Ripple drop its cross-appeal?<br \/>\nOne factor that will play out going forward is Ripple\u2019s cross-appeal, which was filed in October 2024. Deaton believes the SEC doesn\u2019t want Ripple to proceed with the cross-appeal because a ruling could hurt the commission\u2019s jurisdiction and affect other cases.<br \/>\nThat gives Ripple some leverage in negotiating the settlement. \u201cEverything\u2019s turned,\u201d Deaton said. \u201cThe election\u2019s turned, the industry turned, the SEC [has] completely done a 180 as it relates to the industry. Why should we pay $125 million?\u201d<br \/>\nHowever, there still is the issue of the injunction issued by Judge Analisa Torres, which prevents Ripple from selling XRP to institutional investors to prevent violation of securities laws.<br \/>\n\u201cIf Ripple obviously wants to be able to issue XRP to banks in America directly, I think the hang-up is that injunction and how do you get past that injunction,\u201d Deaton said.<br \/>\nRelated: XRP\u2019s role in US Digital Asset Stockpile raises questions on token utility \u2014 Does it belong?<br \/>\nRipple case was an attack on the industry<br \/>\n\u201cI remember when this case was first filed,\u201d Deaton told Cointelegraph, adding:<br \/>\n\u201cI thought it was an assault on the industry, like the boot on the neck of the industry, and I was confident that it wasn\u2019t going to be just a one-off, that it wouldn\u2019t just be Ripple, that it was more of a message that the traditional finance, the banking system, the Elizabeth Warrens and the Gary Genslers of the world, had it in for the industry.\u201d<br \/>\nHe added that Ripple can appeal to the fact that it never left the US even after the SEC brought the case and that it is an American-made company.<br \/>\n\u201cI think it\u2019s to do with Brad Garlinghouse being able to say, \u2018Well, look, we got sued by the US government and the Biden administration; we\u2019re an American-made company, you know, [and] we never left.\u2019 And I think that bodes well.\u201d<br \/>\nMagazine: Hall of Flame: Crypto Banter\u2019s Ran Neuner says Ripple is \u2018despicable,\u2019 tips hat to ZachXBT<a href=\"https:\/\/cointelegraph.com\/news\/sec-ripple-case-xrp-not-security-john-deaton?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsThe US Securities and Exchange Commission dropping its appeal against Ripple is the \u201cfinal exclamation point that these [XRP] tokens are considered digital commodities, not securities,\u201d crypto lawyer&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125406"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=125406"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125406\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=125406"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=125406"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=125406"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}