Attorney John Deaton, who is involved in the Ripple-SEC legal fight, talked at a blockchain conference in Texas. He talked about something important called “qualified immunity.”
This protects government people, like those at the SEC, from getting in trouble for things they do as part of their job. Deaton said this makes it hard to hold them responsible for their decisions.
Challenging SEC Immunity: What’s Needed
At a conference, John Deaton talked about something called “qualified immunity.” He said that to challenge this and the SEC’s protection, there needs to be strong proof that shows SEC officials did something wrong. This proof could lead to the chance to sue the SEC for working together on something bad.
He talked about a case with Bernard Madoff. People sued the SEC for not stopping a bad plan even after being warned many times. The judge said no to the case, showing how it’s tough to make the SEC responsible.
John Deaton’s Insights on Ripple Case Appeal
John Deaton discusses the Ripple case appeal’s current status. He suggests that the main appeal might happen after the whole trial ends, which could take longer.
He speculates about possible outcomes. One could be that the SEC officials talk about the case. Another possibility is that they settle the case without going to court. This might depend on another case involving Coinbase. The SEC’s decision in that case could affect what happens with XRP.
Deaton also clarifies that there isn’t an appeal happening right now. The judge only allowed them to ask if they can appeal a part of the case. He believes the judge will probably say no to this. If she does, they’ll need to wait for a bigger appeal after the whole case is finished. This might be around late 2024. Then, it could take 18 more months, so the second circuit might review it in late 2025.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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