John Deaton, lawyer representing XRP interests, shares insights on the current state of the Ripple vs. SEC case and the challenges the company faces.
Reasons for Delays
Deaton pointed out that despite positive developments in the crypto industry and discussions about new regulations, Ripple remains under legal pressure. The SEC previously accused Ripple of selling XRP as an unregistered security. Although Ripple had a partial victory last year, an old court order (injunction) continues to impact the company's business.
Political Uncertainty
Deaton highlighted the political risks. If future elections swing power back to anti-crypto lawmakers, like Senator Elizabeth Warren, new regulators could create additional challenges for Ripple and the industry.
Expectations from Ripple's Legal Team
Deaton expressed the view that Ripple's legal team should have been more proactive in emphasizing how the prolonged case negatively affects ordinary investors’ interests. Despite the confidence of the team, Deaton expected greater pressure on the court for a conclusive resolution.
Deaton believes that the likelihood of the court approving Ripple's request is quite high, but the situation remains complex, especially considering potential political changes.
