CandleFocus Ripple vs. SEC Ends: Can Individuals Pursue a Class-Action Lawsuit? John Deaton Calls It ‘Challenging’
2024-09-17
Author: Content Editor
Ripple has won its legal battle with the SEC, resulting in a reduced fine of $25 million instead of the original $2 billion. Ripple can continue operating globally but faces restrictions on selling XRP to U.S. institutions. The SEC apologized for mischaracterizing XRP, casting doubt on its regulatory approach. Attorney John Deaton discussed the possibility of filing a class-action lawsuit against the SEC, explaining that while suing a government agency is challenging, an ongoing Inspector General investigation could uncover misconduct and potentially provide grounds for legal action. However, the outcome would depend on the findings of the investigation.
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