Attorney Deaton Says No Settlement Between SEC And Ripple. Would SEC Settle With Ripple?

Attorney Deaton of Ripple has stormed the internet as he says the SEC chairman, Gary Gensler, will not settle with Ripple.

Recall that Deaton once stated earlier this year, saying that Gensler would not want to settle with Ripple because such a move would require him to publicly agree that XRP transactions, including secondary market sales, are non-securities. 

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In the same vein, he said that Ripple will only consider settling with the United State commission only if the commission is ready to provide clarity for XRP and declare the crypto asset non-security, attorney Deaton added. 

Would SEC Settle With Ripple

“I think a settlement [with] Ripple is not in Gensler’s mindset. I don’t believe he’s going to settle and publicly agree that ongoing and future XRP sales, including in the secondary market, are non-securities. And Ripple won’t settle unless the SEC so agrees,” said Deaton. 

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It is worth noting that the SEC has nothing to settle within the ongoing lawsuit against Ripple lawsuit. Earlier this month, cryptocurrency company Kraken agreed to pay a $30M fine and discontinue its staking service to settle the charges made by the SEC. 

In the battle between Ripple and SEC, it seems that the SEC is having strong confidence that the court ruling would be in its favour.

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Dr. Olajide Samuel juggles the demands of medical studies with a passion for cryptocurrency. A seasoned blogger, Olajide shares his vast global knowledge of the crypto space, offering insights to enthusiasts. Despite his busy schedule, his commitment to crypto remains strong, and he actively seeks ways to contribute to its future.