Ripple Vs. SEC Update: Pro-XRP Lawyer Reveals The Next Major Dates To Watch

Share This Post

A pro-XRP lawyer has disclosed the final dates of the Ripple and SEC case, sharing insights into the upcoming dates and what could transpire during the hearing. 

Ripple And SEC Case Final Dates Disclosed

Pro-XRP lawyer, John E. Deaton has revealed the dates of the final case between Ripple, the technology company behind XRP, and the United States Securities and Exchange Commission (SEC).

In a live video posted on his official YouTube Channel, Crypto Law TV, Deaton gave detailed insights on the Ripple and US SEC case. He revealed the next dates of the final case ordered by US District Judge, Analisa Torres.

According to the remedies and discoveries filing, the court has ordered both parties, namely the US SEC and Ripple, to conclude all remedies-related discovery by February 12, 2024. 

By March 13, 2024, the plaintiff, which is the US SEC, is mandated to file its brief regarding the remedies. In response to the SEC’s brief, Ripple, who is the defendant, would be allowed to file its opposition by April 12, 2024. And finally, by April 29, 2024, the plaintiff is expected to file its response to the defendant’s opposition. 

Deaton has stated that the culmination of the Ripple and SEC lawsuit would most likely be in July, during the summer. 

Deaton Predicts Lower Fees In Damages Than Demanded

In his recent live YouTube video, Deaton made some interesting predictions about the Ripple and US SEC lawsuit. According to the pro-XRP lawyer, Ripple may end up paying less in damages than its attorney expenses.

At present, the company has spent over $200 million in its lawsuit with the SEC as the crypto payments company has been in a legal battle with the regulatory body since 2020. 

Deaton has based his predictions on his insights and deductions of the $770 million disgorgement fine issued by the US SEC to Ripple. The lawyer mentioned several elements in the case that could greatly reduce the initial charge. 

He stated that factoring in ODL sales and XRP sales made outside the US where XRP is not considered a security, in the deductions of the charges, could potentially result in a significant reduction of the $770 million fine. 

He also mentioned that the case between the US SEC and Ripple was not a fraud case and as such, the regulatory agency would be mandated to provide documents related to the victims allegedly harmed by XRP sales. 

Deaton has stated that the majority of institutional investors have not suffered any harm as they presumably purchased XRP tokens at a price lower than the present value. Many XRP holders have stated that they did not experience harm from XRP sales. However, they did incur losses due to the SEC’s attempted enforcement actions against the crypto firm.

XRP price chart from Tradingview.com (Ripple vs SEC)

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

XRP Lawsuit Reaches 4 Years as Ripple Pushes Trump to Reform SEC

Ripple is calling on the SEC to rebuild trust as its four-year legal fight over XRP persists, with hopes for policy shifts under incoming leadership Ripple Urges SEC to Rebuild Credibility Amid XRP

Stephen Miran to Lead Trump’s Economic Team: What It Means for Bitcoin’s Future

On Sunday, President-elect Donald J Trump revealed that Stephen Miran, who previously served during Trump’s first term, will helm the Council of Economic Advisers Miran is seen as a pro-bitcoin

Infomon Blends Pokémon Go With NFTs and X Integration

Imagine Pokémon Go but with NFT ownership, token rewards, and social media integration—welcome to Infomon, a revolutionary Web3 game that brings AR to the blockchain Quick Recap from OpenSeason

Bitcoin $178K Target In Sight? Analyst Highlights Bollinger Band Retest Mirroring Jan. 2024 Rally

Bitcoin has been on a correction path since it reached a new all-time high of $108,135 on December 17 Notably, this correction has seen the leading cryptocurrency decline by about 10% up until the

‘$600M Would Buy a Lot of Bitcoin’: Microstrategy Boss Steers Bezos Wedding Drama Toward Crypto

Michael Saylor, co-founder and executive chairman of Microstrategy, brought bitcoin into the spotlight during an online exchange with Jeff Bezos on X The Amazon founder found himself in the headlines

El Salvador Reinforces Bitcoin Allegiance: Purchases BTC in Defiance of IMF Agreement

The government of El Salvador has clarified that it will continue pushing bitcoin as part of its economic strategy, even as it inked an agreement with the IMF to wind down its bitcoin operations El