Ripple to Win Supreme Court Battle vs. SEC, New Partner Uses XRP in $1B Market
• Ripple has entered into a partnership with Joyalukkas Exchange.
• John Deaton, the attorney for Ripple, believes that they will win against the SEC in court.
• Stuart Alderoty, Chief legal officer of Ripple, highlights the SEC’s weak track record in the Supreme Court.
Ripple Enters New Partnership
Ripple has struck a new partnership with Joyalukkas Exchange in Dubai. The exchange is set to use XRP as its primary currency, which could open up a billion-dollar market for the crypto asset.
Attorneys Confident of Winning Against SEC
John Deaton, lawyer for Ripple, is confident that his client will win against the Securities and Exchange Commission (SEC) when it comes to court. He cites the case of West Virginia EPA vs. SEC as an example of how far the latter has overreached its authority on certain matters.
Stuart Alderoty, Chief Legal Officer at Ripple also shares this belief and points out that the SEC has lost 4 out of 5 cases in the Supreme Court – something he attributes to defendants having enough courage and resources to fight back against their bullying tactics and stretched legal positions not rooted in law.
SEC Track Record Questioned
The SEC’s weak track record in recent cases was highlighted by both attorneys when discussing their confidence that Ripple would win against them in court. They argued that because of cases like West Virginia EPA vs. SEC where they were pushing boundaries beyond what is allowed by law, they would be unlikely to be successful if taken all the way up to Supreme Court level again. It seems their strategy of bullying other defendants may have finally caught up with them now that more are standing up against them and fighting back with enough resources behind them to do so effectively.
XRP Set To Be Used In Billion Dollar Market
The newly formed partnership between Ripple and Joyalukkas Exchange could open up a billion-dollar market for XRP as it would become their primary currency used on the platform – something which should provide further legitimacy for cryptocurrency usage across global markets going forward if adopted successfully here firstly.
Conclusion
It remains to be seen whether or not Ripple is successful in its battle against the Securities and Exchange Commission but judging from recent Supreme Court rulings and statements made by both attorneys involved with this case things certainly look promising! The new partnership also sets a great precedent for wider adoption of cryptocurrencies across many different markets around world too – so watch this space!