- John Deaton confirms Ripple’s right to conduct ODL transactions outside the U.S.
- U.S. SEC’s jurisdiction is limited, not overseeing XRP sales abroad.
- Ripple’s defense highlighted 95% of XRP sales occurred outside the U.S.
John Deaton, a staunch XRP advocate, recently clarified the legal stance of Ripple’s On-Demand Liquidity (ODL) transactions.
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Addressing a query during the CryptoLaw AMA session, Deaton highlighted Ripple’s longstanding ability to sell XRP outside the U.S. without facing legal repercussions. He emphasized that the U.S. SEC’s authority is confined within the country’s borders.
“The SEC can only oversee potential security sales within the United States,” Deaton stated. This perspective underscores Ripple’s defense that a vast majority, 95%, of its XRP sales took place internationally. Deaton further confirmed that Ripple’s international XRP sales, even post-Judge Torres’ ruling, remain unencumbered by legal constraints.
Looking ahead, Ripple and XRP are poised to play a pivotal role in the global crypto ecosystem. With clear legal pathways for international operations, Ripple’s potential for growth and innovation remains vast, promising a bright future in the crypto space.
In the intricate world of cryptocurrency, Ripple’s ODL transactions stand out, especially when viewed through the legal lens. John Deaton’s insights offer a fresh perspective, emphasizing Ripple’s unchallenged right to operate beyond U.S. shores. As the crypto landscape evolves, Ripple’s strategic moves, backed by clear legal stances, position it as a formidable player in the global arena.
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