- Ripple strikes a new partnership with Joyalukkas Exchange.
- Attorney John Deaton has no doubt that Ripple will win against the SEC.
Stuart Alderoty, the Chief legal officer at Ripple has spoken about the weak track record of the SEC in the Supreme Court. According to his statement, the SEC has not been very fortunate with its case against other defendants in the Supreme Court. Stuart Alderoty made a tweet stating that the U.S. SEC has lost 4 out of 5 cases in the Supreme Court.
He also affirmed that the development was solely due to the fact that few defendants were courageous enough, and had resources to fight back against the SEC’s bullying. He maintains that they also fought to push the legal positions that didn’t align with the law, in order to achieve the feat.
The SEC has lost 4 of its last 5 cases in the Supreme Court, thanks to the few that had the courage and resources to fight back against the SEC’s bullying and clinging to stretch legal positions that were not faithful to the law.
— Stuart Alderoty (@s_alderoty) February 20, 2023
Attorney John Deaton followed up in response, saying that he believes Ripple will win its case against the SEC and that the Supreme Court will suspend the SEC’s “gross overreach.”
John Deaton mentioned that the West Virginia EPA case is one such case that shows the SEC is crossing its bounds. He goes on to put his full weight behind Ripple, commending it for its well-written summary judgment brief.
I have no doubt Ripple will win and the current Supreme Court will shut down the @SECGov’s gross overreach. The West Virginia 🆚 EPA case is all you need to read to agree with me. @Ripple’s summary judgment brief is already an extremely well written appellate brief. https://t.co/o3g9zML9S2
— John E Deaton (@JohnEDeaton1) February 20, 2023
“We are lucky we got Judge Netburn and Judge Torres and if Judge Torres denies the SEC’s motion like I expect her to and says it goes to a jury, that’s a win. You confuse my motion with Ripple’s. I filed in opposition of the SEC not in support of Ripple.” Deaton added.
Ripple strikes yet another promising partnership
According to Punnoose Mathew, managing director of Dubai-based Joyalukkas Exchange, a meeting was held with “the leader in blockchain and crypto solutions for enterprises.” Mathew refers to Mark Johnson, William Cooley, and Nick Taplin, three Ripple employees.
Matthew revealed that the meeting involved a discussion on the benefits that ripple could bring to the money transfer ecosystem. Additionally, Matthew added that the exchange is fully opening its doors to collaborating with Ripple. Matthew wrote in a recent post on LinkedIn:
It was a great discussion on how Ripple could be a great enabler for money transfer entities to scale up for affordable cross-border payments, instant settlement, and continuous liquidity access with their On-Demand Liquidity using the XRP platform. We are excited to collaborate with you.
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Joyalukkas Exchange is part of the Joyalukkas Group. The group is a multi-billion dollar global conglomerate, and also a world renowned brand in Jewellery retail. Joyalukkas Exchange is positioning itself as one of the most credible payment service providers in Abu Dhabi.
While the public awaits an official statement confirming the partnership with the exchange, it is likely that the XRP-based technology On-Demand Liquidity (ODL) will be utilized for the enhancement of cross-border payments.
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