XRP Lawsuit: John Deaton Demystifies Key Facts
– The SEC has appealed the ruling in the XRP lawsuit against Ripple Labs.
– John E. Deaton, a lawyer representing XRP holders, believes this move could backfire on the SEC.
– The SEC’s appeal is a pre-motion letter seeking permission to file a more detailed motion on the court’s ruling.
– This allows the SEC to challenge aspects of the ruling it disagrees with, even before the case is concluded.
– Deaton believes the judge is likely to grant the pre-motion letter, providing an opportunity for further debate.
Deaton’s Involvement in Pending SEC Appeal
– John Deaton will wait to read Ripple’s response before deciding whether to take part in the appeal.
– He believes the judge doesn’t want redundant arguments from multiple parties.
– Deaton is closely monitoring the case and interested in understanding Ripple’s perspective.
Hot Take: SEC’s Appeal Could Have Unintended Consequences
The SEC’s decision to appeal the ruling in the XRP lawsuit may not go as planned. John Deaton, a lawyer representing XRP holders, believes this move could backfire on the SEC and have unintended consequences for their regulatory efforts. Deaton explains that the appeal is a pre-motion letter seeking permission to file a more detailed motion on the court’s ruling. This allows the SEC to challenge aspects of the ruling it disagrees with, even before the case is concluded. Deaton believes the judge is likely to grant the pre-motion letter, providing an opportunity for further debate. He also mentions that he will wait to read Ripple’s response before deciding whether to take part in the appeal. This suggests that Deaton is closely monitoring the case and interested in understanding Ripple’s perspective.
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