Next episode of the drama SEC vs. Ripple postponed to January 19, 2022
It seems that the next development of the drama between the SEC and Ripple Labs will come a little later than expected. Specifically, the court granted the request of both parties to change the examination schedule from January 14 to January 19, 2022. The reason? Yes, it is due to a mismatched schedule.
Meanwhile, however, attorney John Deaton, who represents the interests of thousands of XRP owners, shared his views on the case and the likely outcome for XRP investors.
The first deaton keeps viewers informed of the progress of the proceedings by highlighting arguments related to the SEC’s right to due process – or the right of an agency to protect government documents.
“These are internal documents of the SEC, their documents about Bitcoin, about Ethereum. There is even a document dated June 13, 2018 verifying XRP and whether it is a security, and the SEC has refused to release any of those documents. They claim to be privileged even though they say they never made an official statement on Bitcoin or Ethereum. “\
Additionally, Deaton disagrees with the idea that Ripple and XRP owners join forces. He spoke to 60,000 people and among first-time XRP buyers, 52.8% had never heard of Ripple.
How the lawsuit will end, Deaton stated:
“At some point Ripple can burn out and suffer:” Yes, we will with certain instructions, for now we can only sell to accredited investors. “You know, there are ways to end the lawsuit, but I don’t see it. I see that it is either resolved or judged. ”
Deaton concluded on the grounds that there had been an earlier case where a jury ruled that digital assets were not unregistered securities.
As of press time, both Ripple and the SEC have filed additional summaries to expand their arguments. However, the regulator continues to claim that all of their documents are protected by the defense.
Ripple co-founder Chris Larsen recently proposed a way for bitcoin miners to save the environment. Larsen suggested getting away from the proof-of-work consensus mechanism and changing the code to reward the miners while reducing their carbon footprint.
As expected, there have been mixed reactions, with many Bitcoin proponents claiming that such a move would destroy the coin’s identity.
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