This prediction was a result of the happenings in the last preliminary investigation. The parties involved recently filed their pleas for declaratory judgment. Numerous legal analysts argued that the SEC’s probability of winning the litigation has plummeted.
An Overview of Some Legal Analyst’s Predictions
Strand Consult’s Vice President Layton, during an interview with Forbes, has revealed that they are various signs that show SEC’s fate. He said that the United Securities and Exchange Commission (SEC) would suffer a “Brutal legal defeat.” He gave many reasons for such a prediction and assured Ripple’s victory in the court.
Layton said that the Securities and Exchange Commission “got trapped in a vortex of its invention.” The renowned defence attorney for Ripple leveraged on the SEC’s bizarre assertions. The group disclosed the commission’s temper tantrums to Barrister Analisa Torres.
Layton also revealed that “With conflicting petition for declaratory judgement, the parties have ended a prolonged review stage. Ripple presented a compelling argument, but SEC’s argument was an enhanced version of its original complaint.”
Other famous legal Analysts that believe and predicted Ripple’s victory include Curt Levey. Also, J.W Verret, a renowned professor in Mason University’s school of law, believed that Ripple was on its way to victory.
He said that “SEC might likely lose the case if the commission files an appeal to the Supreme Court. The commission needs to have concrete and accurate evidence before it could win, but such is not available.”
Factors That Could Pave the Way for Ripple’s Victory
Legal analysts have revealed various reasons why they predicted Ripple’s victory in the next phase of the case. Layton pointed his hands to the ubiquitously Hinman address reported virtually in all media. The corporate finance commission’s former director clarified some notions about Bitcoin (BTC) and Ethereum (ETH).
He said that the coins are not securities because their database is decentralized. The United Securities and Exchange Commission only recognizes businesses on a centralized database.
Unfortunately, the SEC was unable to establish the fact that Ripple and XRP traders recognize the tokens as a security. Although the commission claimed that the tokens had reached the status of a security. The intervention of XRP trader’s legal counsel, John Deaton, will make SEC’s case end soon
Despite the request to interfere, Judge Torres allowed the drafting of additional reports. Such an act directly indicates to the SEC that legitimate XRP traders will be allowed to interfere. More than 3,0000 XRP traders will use the opportunity to submit an attestation to the court.
Ripple has agreed to accept the court’s verdict and will also pay a fine if necessary. However, the company will pay the fine if SEC does not recognize XRP as a security. If Ripple records victory, XRP tokens will drastically increase in price because its investors will celebrate it.