Lawyer John Deaton, who supports Ripple, expressed his confidence that the company will win its appeal against the Securities and Exchange Commission (SEC). Deaton commended attorney Bill Morgan for his analysis of the SEC’s case against Ripple. According to Morgan, Judge Torres classified sales of XRP into different categories and ruled that the sale of XRP to institutional investors was considered a sale of securities, while programmatic sales on virtual exchanges were not. Deaton stated that Judge Torres made her decision by considering each sale as alleged by the SEC and applying the Howey test. Deaton is willing to bet significant funds that the Judge’s decision will not be reversed upon appeal.
AI Sentiment: Positive