Ripple v. SEC court case update as of February 27, 2023 Despite both parties in the Ripple and Securities Exchnage Commission (SEC) case making final submissions and awaiting summary judgment, the main focus still lingers around the regulator’s power in providing oversight in crypto alongside unsealing vital documents. Under the latest update, pro-XRP lawyer John Deaton has questioned a statement by SEC chair Gary Gensler alleging that any crypto besides Bitcoin (BTC) is classified as a security. It is worth noting that the SEC is using Ripple for selling XRP as unregistered securities. In a tweet on February 27, Deaton stated that there is no consensus regarding securities classification. He made the remarks in reaction to a comment by MicroStrategy executive chairman Michael Saylor who noted that Gensler’s remarks are testimony that consensus is building on the classification of securities. Previously, Deaton shared the possible arrangements for both parties to settle even as they await the summary judgment. According to Deaton, Ripple would pay $100-250 million in a settlement if the regulator agrees that ongoing and future sales of XRP are not classified as securities. Read More: https://finbold.com/ripple-v-sec-court-case-update-as-of-february-27-2023/