John Deaton, a pro-XRP lawyer, is skeptical that the unsealing of documents by former U.S. Securities and Exchange Commission (SEC) official William Hinman will affect the SEC’s lawsuit against Ripple.
Deaton says in a new Wolf of All Streets interview that the unsealing of the Hinman documents is immaterial to the lawsuit’s outcome.
“There’s nothing in the speech that’s going to affect the judge’s analysis of whether Ripple sold XRP as an investment contract. There’s nothing in there. And even if Bill Hinman had said XRP is not a security, the judge could disregard that because he’s just one official at the SEC.”
On the next course of action by the SEC and Ripple after the judgment on the lawsuit is released, the pro-XRP lawyer says,
“If you look at the Ripple summary judgment brief, it’s really when it came out I said it’s a brilliant brief and I hate it. It’s written for the [United States Court of Appeals for the] Second Circuit because it’s all about case law and all about you know the inherent nature of an investment contract, and a security and blah blah blah…
So if Ripple loses, it’s definitely going to the Second Circuit.
If the SEC loses, I don’t think they appeal. Because why would they? They’re getting blasted. Almost in every court hearing, you hear the judge is taking issue with the way the SEC is conducting themselves.”
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