Attorney Deaton Says Ripple Could Pay $250M to Settle With SEC

Attorney Deaton thinks the blockchain company could pay as much as $250 million to settle with the SEC.

Pro-XRP attorney John Deaton has asserted that cryptocurrency behemoth Ripple Labs could pay a $250 million fine to settle with the Securities and Exchange Commission (SEC). Attorney Deaton made this known in response to questions on whether there could be a partial settlement and partial appeal in the lawsuit between Ripple and the SEC.

Hey @JohnEDeaton1 is it possible for there to be a SEC vs. @ripple partial settlement and partial appeal which could end up in the Supreme Court?

— Digital Asset Investor (@digitalassetbuy) February 21, 2023

In a tweet yesterday, Deaton noted that Ripple could pay between $100 million and $250 million if the SEC agrees to settle. Per Deaton, the leading blockchain company will only settle with the SEC if the securities regulator publicly declares that all current and future XRP sales are not securities. 

Deaton asserted that the Securities and Exchange Commission would not agree to such a condition from Ripple during its war against the cryptocurrency industry. Interestingly, the founder of CryptoLaw noted that Judge Analisa Torres could provide regulatory clarity for XRP secondary market transactions.

IMO Ripple would pay $100-250M in a settlement IF the SEC agreed publicly that current and future sales of XRP are not securities. The SEC is NOT going to agree to that in the middle of its war ? crypto. Judge Torres could provide clarity on secondary sales which isn’t appealed.

— John E Deaton (@JohnEDeaton1) February 21, 2023

Deaton Addresses Inquiry About a Settlement in Ripple vs. SEC

Deaton’s comment comes amid the unending inquiries from XRP community members eager to know whether Ripple and the SEC could settle before Judge Analisa Torres gives her verdict on the case.

Deaton has continued to address all inquiries about a possible settlement between Ripple and the SEC. In a January 1st tweet, Deaton said the SEC, under the leadership of Gary Gensler, is not thinking about settling with Ripple because of the company’s demands.

“In sum, unfortunately, I think a settlement w/Ripple is not in Gensler’s mindset. I don’t believe he’s going to settle and publicly agree that ongoing and future XRP sales, including in the secondary market, are non-securities. And Ripple won’t settle unless the SEC agrees,” said Deaton.

A month later, attorney Deaton reiterated that the parties would not agree to settle until Judge Torres ruled on the case. Meanwhile, XRP community members eagerly anticipate the lawsuit’s outcome between Ripple and the SEC. A win for Ripple could prompt US-based exchanges to re-list XRP, thus causing the asset’s price to soar tremendously. However, an SEC win could spell doom for Ripple and the cryptocurrency asset.