SEC Call Won't Be a Setback for XRP Holders - Pro XRP Lawyer

Attorney Deaton explained possible scenarios and the intricacies of executing summary judgment.

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Amid speculation that a potential appeal from the US SEC could negatively impact the crypto market, Pro-XRP attorney John Deaton made it clear that even if there is an appeal from the agency, it would not materially affect XRP holders.

Following the judge's decision declaring that the programmatic sale of XRP tokens through exchanges does not classify them as securities, a new question arises regarding the potential legal implications if the SEC decides to appeal this decision. Attorney Deaton, who represents over 75,000 XRP token holders, explained possible scenarios and the intricacies of enforcing summary judgment.

The United States SEC said on July 21, in its filing regarding the case of Terraform Labs CEO Do Kwon, that it plans to seek a review of the decision in the Ripple lawsuit. The move came after Kwon expressed his intention to use the XRP trial verdict as a precedent to argue that digital assets should not be classified as securities.

A call doesn't even come close to being a failure. First, it will take two years before a decision is made by the 2nd Circuit, if appealed. The Torres decision is the law until then - at least in the 2nd Circuit. Second, even though the 2nd Circuit said Torres was wrong… https://t.co/GzW31D9edQ

— John E Deaton (@JohnEDeaton1) July 22, 2023

Deaton's explanation suggests the appeal decision could span two years, from...