John Deaton said XRP may not pay substantial damages as the SEC’s lawsuit against it comes to a close.
The SEC is expected to disclose how much they want Ripple to pay in damages by February 12, 2024
Deaton said the absence of fraud and the fact that 95% of the sales were outside the U.S. put the law on Ripple’s side.
In a recent video, John Deaton, a reputed attorney and host of the YouTube channel CryptoLawTV, predicted Ripple may not pay any substantial damages as the lawsuit against it by the U.S. Securities and Exchange Commission (SEC) gradually ends.
Indeed, Deaton noted that Judge Analisa Torres had issued her scheduling order for the final stage of the trial. He added that, with the schedules, the case could come to a close by July 2024.
According to Deaton, Judge Analisa has asked the SEC to frame the appropriate fine and damages that Ripple must pay. It bears mentioning that the partial victory Ripple secured earlier this year ruled institutional sales of XRP to have violated securities laws.
Following that, Deaton predicted that the award and damages would be based on the $770 million worth of XRP institutional sales. However, Deaton…
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