- 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.
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.
Read also:
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
