HomeNewsRipple vs. SEC: Ripple Lawyer Unveils Surprising Twist in Class Action Lawsuit...

Ripple vs. SEC: Ripple Lawyer Unveils Surprising Twist in Class Action Lawsuit Battle

- Advertisement -
  • Ripple Labs has identified a potential loophole in its legal battle with the U.S. Securities and Exchange Commission (SEC) that could impact the outcome of the ongoing class-action lawsuit.
  • The lawsuit’s lawyers may be quietly hoping for Ripple to win the SEC case, which could redirect penalties away from the plaintiffs and possibly establish a compensation fund for XRP holders.

Rippleā€™s Potential Ace in the Hole

In an unexpected development, Ripple Labs seems to have identified a possible legal loophole in its ongoing confrontation with the U.S. Securities and Exchange Commission (SEC). This discovery could significantly sway the resolution of the present class-action lawsuit.

A Twisted Motive Exposed by Deaton

John Deaton, an active figure in the Ripple-SEC case, posted a tweet hinting that the attorneys representing the class-action plaintiffs may clandestinely be rooting for Ripple’s triumph. The rationale? If the SEC lands a substantial victory, the regulatory body would collect the resulting fines and penalties, not the aggrieved parties. This unexpected twist could establish a compensation fund for XRP holders, thereby subverting the entire class-action lawsuit.

The Central Issue: Is XRP a Security?

- Advertisement -

The main question fueling both the SEC case and the class-action lawsuits is whether XRP should be classified as a security. This contention has been a recurring theme in Ripple’s legal struggles in recent years, adding an extra layer of complexity to the ongoing drama.

>> Buy XRP quickly and securely with PayPal, credit card or bank transfer at eToro with low fees and deposit protection. Get started with XRP now. Visit Website <<

An Assurance for International XRP Holders

Deaton further elaborated that the certified classes in the class-action lawsuit only include U.S. investors. This stipulation offers a sense of relief to XRP holders outside of the U.S., as regulatory authorities in countries such as the United Kingdom, Japan, Singapore, and the United Arab Emirates have already established that XRP does not fall under the security category in their respective jurisdictions. Hence, these international XRP holders remain untouched by the certification of the class-action lawsuit.

- Advertisement -

In the midst of battling on two fronts – the SEC lawsuit and the certified class-action – Deaton’s revelation hints that the SEC case outcome could indeed be the pivotal factor that changes the game. The stakes, it appears, have never been more elevated.

Best Crypto Exchange for Everyone:

  • Invest in Ripple (XRP) and 70+ cryptocurrencies and 3,000 other assets.
  • 0% commission on stocks – buy in bulk or just a fraction from as little as $10.
  • Copy top-performing traders in real time, automatically.
  • Regulated by financial authorities including FAC and FINRA.

2.8 Million Users

Get Started

 

- Advertisement -
ETHNews does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. ETHNews is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.
Brian Johnson
Brian Johnson
A dedicated Bitcoin journalist passionate about uncovering the latest trends, developments, and innovations in the world of cryptocurrency, while delivering engaging and well-researched articles to inform and educate readers on the dynamic digital finance landscape.
RELATED ARTICLES
- Advertisment -spot_img

LATEST ARTICLES