Ripple Case: Will it Reach the Supreme Court Before Congressional Action? Deaton Weighs In
The ongoing legal battle between Ripple and the Securities and Exchange Commission (SEC) continues to captivate the crypto world. One prominent voice offering insights is John E. Deaton, the defense lawyer and popular commentator on the case. His predictions and analyses are closely watched, especially concerning the potential for the case to escalate to the highest court in the land.
Deaton's Supreme Court Prediction: A Decreased, But Not Impossible, Chance
While initial speculation hinted at a swift appeal by the SEC, potentially leading to the Supreme Court, Deaton suggests a different scenario. According to Deaton, the denial of an early appeal reduces the chances of the case reaching the Supreme Court. This is because Judge Torres’ prior ruling on XRP, which delivered Ripple a partial victory, is now more firmly established as settled law.
However, Deaton hasn't ruled out the possibility entirely. The delay in judgment from Judge Torres may be due, in part, to the potential for the case to eventually reach the Supreme Court, even if the path is now less direct.
SEC's Weak Appeal Grounds and the Risk of Repeating the Outcome
Legal expert John Deaton suggests the SEC lacks strong grounds for appealing Ripple’s favorable ruling. He believes that if the SEC appeals and the case returns to the lower courts, it could very well result in the same outcome, further solidifying Ripple's position.
Deaton Urges the Ripple Community to Fight in the Courts
Deaton remains a staunch advocate for the Ripple community. In a tweet responding to Fox journalist Eleanor Terrett regarding the SEC's budget proposal, John Deaton says Ripple community must fight in the Courts. He has consistently affirmed this message throughout the lengthy proceedings.
Ripple's Potential IPO: Deaton's Timeline
Beyond the legal proceedings, Deaton has also offered his perspective on Ripple's potential future as a public company. John Deaton predicts that Ripple could go public by the end of this year or the first quarter of 2025. He remarked that the timing will depend on how aggressive Paul Atkins is in navigating the regulatory landscape.
Congressional Action vs. Supreme Court Decision
The question remains: will clarity on the regulatory status of cryptocurrencies come from Congress or a Supreme Court ruling first? The legal proceedings between the SEC and Ripple are undoubtedly influencing this timeline. While congressional action could provide a broad framework, a Supreme Court decision would set a powerful precedent impacting the entire industry.
As the SEC-Ripple lawsuit progresses, John E Deaton remains a key figure in providing insights and analysis. Whether the case ultimately reaches the Supreme Court before Congress acts remains to be seen, but Deaton's commentary provides valuable context for navigating this complex legal landscape.