Ripple recently won a lawsuit against the US Securities and Exchange Commission (SEC), but some members of the community believe the legal battle caused damages for the firm and its native token, XRP. According to lawyer and founder of CryptoLaw, John Deaton, the SEC lawsuit affected potential mass adoption of XRP in the last three years.Before the lawsuit, XRP was adopted by major companies such as Coinbase and MoneyGram. Coinbase even met with the SEC in 2019 to determine if XRP was a security and the SEC did not refute Coinbase’s evaluation. However, after the SEC sued Ripple for selling unregistered securities worth $1.3 billion, Coinbase and other exchanges delisted XRP. MoneyGram also ended its partnership with Ripple and formed a new relationship with Ripple’s rival Stellar Development Foundation (SDF).John Deaton believes the lawsuit harmed XRP’s adoption and possibly affected potential major developments in the last three years. He asked whether Coinbase may have invested in Ripple instead if the lawsuit never happened. In August 2023, SDF bought a minority stake in MoneyGram.

Information	Details
Geography	North America
Countries	🇺🇸 🇨🇦
Sentiment	neutral
Relevance Score	8
People	John Deaton, Coinbase, MoneyGram, Ripple, SEC
Currencies	XRP, USDC, Bitcoin, Ethereum, MoneyGram
Securities	None