Crypto lawyer John Deaton has explained why he agreed to assist Ripple investors in their dispute with the SEC. Following a lecture by Ripple’s chief legal officer, Stuart Alderoty, on what would happen if they lost to the SEC at this point, the pro-crypto lawyer made his remarks.
Deaton claims that if Ripple loses, it can appeal, take its case to the Supreme Court, and keep things as they are. The lawyer said that although the issue is still being heard, Ripple will be permitted to sell XRP and offer money transfer services.
Yet XRP owners, XRPL developers, and other user groups are not in the same situation; for them, a Ripple loss might be the death knell.
Deaton believes that even if Ripple loses, it is crucial to explain the position of XRP’s secondary sales, and this clarification will be provided in the form of dicta. This legal term for a judge’s statement has little legal weight but can nonetheless be effectively utilized as evidence in subsequent cases.
Alderoty claims that an appeal will be launched right away if Ripple loses at this point. If the case is appealed to the Supreme Court, he is confident that the cryptocurrency corporation will prevail. Alderoty added that Ripple would have greater room to grow domestically if it were to win on summary judgment.
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