Crypto lawyer John Deaton believes that the outcome of Ripple's legal battle with the SEC will be in the blockchain company's favor. However, he doubts that Judge Torres will accept one of Ripple's arguments in the summary judgement. Deaton further predicts that despite this argument not being accepted, Ripple will eventually emerge as the winner of this case.

Ripple argued that no investment contract exists as there's no underlying contract in place. Deaton points out that other courts outside the Second Circuit had previously accepted assets with no underlying contracts as constituting an investment contract. This is evidenced by judges accepting the company's brochure to potential investors as a valid investment contract. Deaton believes that Judge Torres will see this as an "offering" but will not accept the argument that no investment contract exists.

Despite not accepting one of Ripple's argument, John Deaton thinks that the ruling by Judge Torres will be in favor of Ripple because the SEC's theory is way too broad and unbounded. He speculates that the summary judgement ruling will come between March 6th and May 6th. Deaton clarifies, however, that it is also possible for the ruling to be delayed until June 1st, as predicting a more specific date is difficult.

The only people who are likely to know the exact ruling date are those who assist Judge Torres in her research. They include her staff and court clerks. Deaton's opinion on the case highlights the importance of Ripple's legal battle and its potential consequences in the crypto-sphere. It is not just the outcome of this case that matters, but also the arguments that Ripple provides in order to be successful.



Other News from Today