Widely known attorney John Deaton, appearing in the SEC vs. Ripple case as a representative of XRP holders, was once again accosted by his community. With that, he addressed the proceedings and indicated that in his opinion the chances of a settlement do not exist.
Both the SEC and Ripple are going after each other
In a tweet on Wednesday, January 15, pro-crypto-currency attorney John Deaton referred to his words from the first day of the year and decided to update them. As it turned out, however, this refreshing of opinions did not change much. It was, however, necessary for the lawyer’s community, which asked him to address his predictions about the course, as well as the eventual outcome, of the litigation between the US Securities and Exchange Commission (SEC) and Ripple.
On January 1, Deaton reported that SEC Chairman Gary Gensler would not want to reach a settlement with Ripple. In his view, such a move would be a public admission that XRP transactions, including secondary market sales, are not subject to securities regulations.
The Silicon Valley company has a similar attitude. A settlement on its part would only be reasonable if the regulator agreed to provide clarity for XRP, as well as a declaration that cryptocurrency assets are not subject to the SEC’s designated restrictions.
Gensler’s mentality does not anticipate a settlement with Ripple
Updating his views on the case, Deaton tweeted:
“I think a settlement with Ripple is not in Gensler’s mentality. I don’t believe he’s going to enter into a settlement and publicly agree that current and future sales of XRP, including in the secondary market, are not securities. And Ripple will not enter into a settlement unless the SEC agrees.”
With that, the lawyer reiterated that the final resolution of the dispute will be a ruling by Judge Analisa Torres.
In the meantime, SEC representatives seem confident of winning. Therefore, a possible settlement with the blockchain company may not make sense. However, given that the litigation has been going on for more than 2 years, the judge may not necessarily express the same conviction.
Big XRP moves on Binance and Crypto.com
Meanwhile, another XRP-related reshuffle is taking place in the background. While transfers based on platforms such as Bitstamp and Bitso seem to be almost a daily occurrence, those linked to other exchanges are no longer. Meanwhile, Binance and Crypto.com became the protagonists of transfers of as much as 223.1 million XRP on February 15, with a total value of $86.6 million. All transfers were directed to unknown wallets and were confirmed by Whale Alert.