Despite the Crypto Crash, some positive news for Ripple from the CEO?

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    Ripple pro-lawyer John Deaton has clarified that while XRP is not a security, it could be considered a security if traded on the primary market. Deaton maintains that digital assets, including Ripple and Bitcoin, are not securities under the Howie test, but notes that they may be sold as securities under certain conditions. In this case, the SEC would have to scrutinize each transaction on both the primary and secondary markets.

    Ripple CEO Expects Final Court Decision Within 6 Months

    Between Dubai Fintech SummitRipple CEO Brad Garlinghouse has revealed that he expects a final court ruling to be handed down within six months. Ripple has spent $200 million to date defending lawsuits. Garlinghouse urged U.S. officials to clarify regulations to keep pace with other countries in adopting blockchain technology. He admitted that the lawsuit was costly and distracting, and he regretted that other companies may have to face the same challenges with the SEC.

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    Potential Consequences of Ripple Lawsuit

    Experts predict that the outcome of the Ripple lawsuit could change if it is proven that XRP was sold as a security. If so, a settlement between the SEC and Ripple could be one of the expected outcomes. Deaton argues that the notion that tokens are investment contracts is false and has not been challenged by the SEC. In his recent SEC v. LBRY lawsuit, the judge said the secondary sale of LBRY tokens is not considered a security sale.