The XRP community is closely watching the ongoing legal case between Ripple and the SEC, especially after a recent ruling that declared Terra Luna as a security. XRP lawyer John Deaton has provided some insights into the differences between the two cases. While the Terra case had a significant impact on the crypto landscape, the Ripple case seems to have a different trajectory.

Deaton compares the Terra case to a drunk driver causing an accident and injuring innocent pedestrians. The government successfully charged the driver for the accident. On the other hand, Deaton describes the Ripple case as a car driving without a speed limit sign and getting pulled over for an expired registration sticker. The government fines Ripple but does not address the issue of speeding. Later, a police car driven by a corrupt officer causes an accident involving innocent pedestrians, and the government sues Ripple for allegedly causing the accident.

The outcome of the Ripple case is crucial for the crypto market as it could set a precedent for the securities status of other cryptocurrencies. The Howey test, which determines whether a token is a security, will play a significant role in Ripple’s defense. Ripple’s chief legal officer, Stuart Alderoty, has also commented on the case.

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Information	Details
Geography	Global
Countries
Sentiment	neutral
Relevance Score	1
People	John Deaton
Companies	Terraform Labs, Howey test, FinCEN, SEC, Ripple
Currencies	None
Securities	None