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John Deaton Explains Why Judge Denies Ripple (XRP) and SEC’s Joint Motion
Renowned attorney and long-time XRP advocate, John Deaton, has weighed in on the recent ruling by Judge Analisa Torres denying the joint motion filed by the U.S. Securities and Exchange Commission (SEC) and Ripple to modify the injunction.
In a video statement, Deaton expressed his understanding of the judge’s decision, stating that he is “not shocked” by the outcome. However, he did not hide his disappointment with the quality of legal filings presented by both parties in response to the court’s requirements.
Deaton emphasized that Judge Torres seemed frustrated by the SEC’s sudden change in position regarding the fine it was seeking from Ripple. Initially, the commission demanded a hefty $1.3 billion penalty but later requested a reduced fine of $125 million, which Deaton believes is an insufficient justification for reversing or dissolving the existing injunction.
According to Deaton, Judge Torres’ decision reflects her commitment to upholding legal standards and avoiding procedural shortcuts. He noted that both parties had underestimated the burden of proof required by the court in this case.
Deaton’s insightful commentary highlights the gravity of Judge Torres’ stance on the matter. His remarks serve as a testament to his professional expertise and dedication to providing accurate information about the ongoing Ripple-SEC legal battle.
Stay tuned for more updates on this developing story.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk.
Source: timestabloid.com
