TechFlow news, John Deaton, attorney representing XRP holders, presented strong arguments in Ripple's legal dispute against the SEC, challenging the possibility of Ripple being required to return $770 million.
He pointed out that under the Supreme Court's Morrison decision, the SEC's jurisdiction over sales outside the U.S. is limited, and since XRP has not been classified as a security in jurisdictions such as the UK and Japan, this supports Ripple's position.
In addition, Deaton emphasized that Ripple's legal dispute does not involve fraud but rather a regulatory disagreement, which shifts focus and reduces the likelihood of disgorgement for XRP sold outside the U.S. to qualified investors.
He also stressed that most institutional sales of XRP did not cause harm, as the price of XRP is now higher than at the time of sale, and the immediate liquidity trading of XRP lowers the risk of investor harm.
