The Ripple vs. SEC case has lingered for almost two years now. Following the litigation brought against Ripple Labs by the SEC, the two entities have had one of the longest legal battles in the crypto space so far. As we approach the end, John E. Deaton, founder of American legal company, Deaton Law Firm, has revealed how important the final ruling is to crypto in general.
Deaton notes that if the final ruling goes against XRP, it could spell doom for other altcoins
In a reply to a tweet by American entrepreneur and known Bitcoiner, Jason A. Williams, Deaton pointed out that the SEC’s case against XRP makes XRP by far the most significant altcoin in the crypto space at this moment. Jason’s tweet reads, “why is XRP important?” It is important to note that Deaton is also involved in the XRP case.
The SEC argues that XRP (Ripple’s native coin) is classified as a security, alleging that Ripple Labs and two executives from the firm profited from the sales of the token without fulfilling...
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