Interestingly, as of today, there are now over 70,000 XRP holders who have joined Deatons class action against the SEC. Although the XRP community seems to believe that the U.S. SECs lawsuit against Ripple does not go to verdict, American lawyer John Deaton, the owner of the Deaton Law Firm, now thinks that we will get a decision by Judge Torres. As you may remember, on 22 December 2020, the SEC announced that it had filed an action against According to Deaton, Genslers views imply that the SEC might find grounds for a crackdown on cryptocurrencies in various circumstances. Scams Crypto101 HodlX Industry Announcements, ABOUT US | EDITORIAL POLICY | PRIVACY POLICY Deaton has been an instrumental part in Ripples legal battle against the U.S. Securities and Exchange Commission (SEC), predicated on allegations that the firm sold XRP as an unregistered security. John Deaton Archives - CryptoLaw Reach her at jody.godoy@thomsonreuters.com. Which one of these outcomes do you think is the most plausible one for the Ripple vs SEC lawsuit? The XRP tokenholders sought to intervene in March, saying they were de facto defendants in the case and wanted to protect their interests. John E. Deaton, the lawyer representing XRP holders in the motion, says he also has notified the Securities and Exchange Coinbase has taken legal action against the Securities And Exchange Commision (SEC) due to their lack of response to their filing, which they claim is the primary reason for their decision. Also Read: Binance CEO CZ Calls For Unity In Crypto Industry Amid FUD Over Rumors, Deaton, who is known for the sharp criticism against the SECs enforcement actions, talked about the potential use case of Bitcoin acting as the digital dollar. According to Deaton, the law is on the side of the US crypto exchange. He has also interviewed a few prominent experts within the cryptocurrency space. John Deaton, founder of CryptoLaw and a pro-XRP lawyer, recently expressed his belief that the United States Securities and Exchange Commission (SEC) would lose its case against Ripple. Attorney Deatons Push for Justice Meanwhile, attorney Deaton is determined to get justice for XRP victims of the SEC lawsuit, and the process has continued to gain momentum. All trademarks and copyrights on this page belong to their respective owners.