The US Securities and Exchange Securities Commission (SEC) and Ripple Labs are expected to proceed to finalize a settlement following the official dismissal of the former’s claims against Ripple’s CEO Brad Garlinghouse and its co-founder Chris Larsen. In line with that, pro-XRP legal expert John Deaton has revealed how the settlement will play out. A Settlement Isn’t Going To Be Straightforward In a post shared on his X (formerly Twitter) platform, Deaton mentioned that he doesn’t believe “there has been a single serious conversation regarding settlement” between the SEC and Ripple alongside its executives. He said that the Commission is “pissed and embarrassed and wants $770M” as a fine for Ripple’s violation of securities laws. Related Reading: Forget 2023, Here Are The Major XRP Price Predictions For 2024 He further noted that the penalty phase isn’t as straightforward as some may think, as it is “like a second case” but one that requires more depositions, interrogatories, requests for the production of documents, emails, bank statements, contracts, and ODL transactions. The process is also made more difficul ..
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