Pro-XRP Lawyer John Deaton Comments on Ripple Vs SEC Lawsuit Developments
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Prominent lawyer and advocate for XRP, John Deaton, recently shared his thoughts on the latest developments in the ongoing lawsuit between Ripple and the U.S. Securities and Exchange Commission (SEC). Deaton expressed his experience of receiving an email related to the case, which initially sparked anticipation but turned out to be the withdrawal of a lawyer, stressing that it held no significant implications for the case’s outcome.
In response to a query from an internet user about the delivery of summary judgment, Deaton explained that Judge Torres, presiding over the case, would file it on the public docket. This means that both Ripple, the SEC, and the general public would receive the judgment simultaneously, just like other rulings in the case.
Just got an email of a filing in the @Ripple case and I must have admit, I got in my stomach. But it was just a lawyer withdrawing from the case. To be clear: a lawyer withdrawing means nothing. It’s not a signal that the case settled or anything of substance whatsoever.
— John E Deaton (@JohnEDeaton1) June 26, 2023
Deaton also discussed the impact of the SEC lawsuit on Ripple and XRP. He pointed out that the legal action had introduced many new users to the digital asset and its CEO, Brad Garlinghouse. The increased attention and awareness have led to over 4 million XRP addresses being affected, according to Deaton.
Highlighting the global reach of XRP, Deaton emphasized that there are holders worldwide who might not even be aware of Ripple’s existence. He shared a conversation with another lawyer who expressed skepticism about affidavits from individuals who purchased XRP after the lawsuit was filed. Deaton argued that the SEC’s actions are limited to the United States, while XRP addresses are distributed across various countries, including Japan, Mexico, the Netherlands, and Australia.
As the Ripple lawsuit continues to unfold, John Deaton’s insights shed light on the evolving dynamics of the case and its impact on Ripple, XRP, and the global community of XRP holders.
Filed under: Bitcoin - @ June 27, 2023 2:22 am