SEC appeal a bust? Judge’s ruling will favor XRP, crypto attorney predicts
Judge Analisa Torres will likely reject the U.S. Securities and Exchange Commission’s (SEC) interlocutory appeal , according to attorney John Deaton. Speaking at the first annual onXDC Live blockchain conference held in Texas, Deaton — founder of Crypto-Law.us and managing partner of the Deaton Law Firm — claimed the SEC had not actually appealed against the ruling that favored Ripple’s XRP. According to Deaton, Torres, who ruled that XRP is not a security if sold on secondary markets, has only allowed the regulator to file a motion for an interlocutory appeal . He further added that there was a likelihood the judge would deny the SEC’s motion, forcing the regulator to file a complete appeal, which won’t happen until late 2024 at the earliest, after the main case has been dispensed with. I predict she denies it, and then when she denies it, they have to wait for a full appeal , which, after the case, would be sometime in late 2024, which would take another 1...