The US Securities and Exchange Commission dropping its appeal against Ripple is the “final exclamation point that these [XRP] tokens are considered digital commodities, not securities,” crypto lawyer John Deaton told Cointelegraph.
Deaton added that there is still a $125-million judgment against Ripple over the improper selling of the XRP (XRP) cryptocurrency, which perhaps the company can negotiate down now that the SEC has dropped its appeal.
Deaton is a well-known lawyer who represented XRP holders, arguing that their interests were not being represented in the SEC’s case against Ripple. He’d later run against Elizabeth Warren, a vocal crypto critic, for a senate seat to represent Massachusetts in Washington, DC.
Related: Why is the Ripple SEC case still ongoing amid a sea of resolutions?
Will Ripple drop its cross-appeal?
One factor that will play out going forward is Ripple’s cross-appeal,