In an interesting turn of events, the United States Securities and Exchange Securities (SEC) voluntarily dropped its case against Ripple executives Brad Garlinghouse and Christian Larsen on Thursday, October 19. While this move implies that the trial scheduled for April 2024 will no longer hold, the financial regulator is still pursuing other parts of the case against the payment company.
In the wake of the surprising dismissal, there has been a wide range of reactions from the crypto world, particularly the XRP community. John Deaton, a lawyer and popular XRP supporter, is the latest to offer an insight into the ongoing legal battle between Ripple and the SEC.
Will The SEC Bring An Immediate Appeal Against Ripple?
In a post on the X (formerly Twitter) platform, Deaton shared his opinion on the possibility of an immediate appeal by the SEC. This was in response to crypto trader Ran Neuner’s concerns about the recent dismissal of the case against Garlinghouse and Larsen.
Although Ran is correct that an appeal by the SEC will happen sooner because the SEC chose to dismiss the case against @bgarlinghouse and @chrislarsensf (because the April 2024 trial will now not happen), it is incorrect to say the SEC can appeal immediately.
The penalty phase… https://t.co/kXoHL61yL3
— John E Deaton (@JohnEDeaton1) October 20, 2023
Neuner had earlier imp
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Author: Opeyemi Sule
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