The legal showdown between Ripple and the United States Securities and Exchange Commission (SEC) has had several twists and turns in the past few weeks. In the latest development, both parties filed a joint brief schedule for remedies discovery and briefing on Thursday, November 9.
As expected, this step has sparked different reactions from various angles of the crypto community. John Deaton, a renowned attorney and vocal XRP supporter, is one of the personalities to weigh in on the recent development in the Ripple vs. SEC legal saga.
Ripple Will Pay A Lot Less Than $770 Million: Deaton
In a series of posts on X (formerly Twitter), John Deaton asserted that Ripple will not pay anything close to $770 million in disgorgement to the United States. This statement came in agreement with the post of Jeremy Hogan, another pro-XRP lawyer, who cited the Morrison v. National Australia Bank Ltd. case as a strategic precedent that could benefit the payment company.
As I said on @CryptoLawUS, Ripple will not come close to paying $770M. Want to know how arrogant and broken the SEC is? The SEC seeks disgorgement related to #XRP sales in the U.K., Japan, Switzerland, etc.
Not only does the Supreme Court’s Morrison decision exclude those… https://t.co/SjqCmVlaPE
— John E Deaton (@JohnEDeaton1) November 10, 2023
Deaton said in one of the posts:
The SEC seeks disgorgement related to #XRP sales in the UK, Japan, Switz
Go to Source to See Full Article
Author: Opeyemi Sule
Tip BTC Newswire with Cryptocurrency
Donate Bitcoin to BTC Newswire
Donate Bitcoin Cash to BTC Newswire
Donate Ethereum to BTC Newswire
Donate Litecoin to BTC Newswire
Donate Monero to BTC Newswire
Donate ZCash to BTC Newswire
