Popular Lawyer John E. Deaton Weighs In On Coinbase-SEC Court Case
John E. Deaton, a prominent lawyer known for his support of XRP, has provided his insights on the ongoing court case between the SEC and Coinbase. Here are the key points:
- Coinbase responded to the SEC’s lawsuit with a motion to dismiss, claiming they do not offer securities and therefore do not fall under the SEC’s jurisdiction.
- Deaton believes there is a 35% chance that Coinbase’s motion to dismiss will be successful based on Uniswap’s recent legal victory.
- Judge Katherine Failla dismissed a class action suit against Uniswap, citing the lack of identifiable defendants and the ambiguous state of crypto regulation in the US.
- Initially, Deaton rated Coinbase’s chances of victory at 20-25%, but now proposes a 35% chance of the SEC’s lawsuit being thrown out.
- The SEC has recently faced losses in other cases, but it is still uncertain if they will lose against Coinbase.
Hot Take: The outcome of the Coinbase-SEC court case remains uncertain, but Deaton’s analysis suggests there is a possibility of the lawsuit being dismissed. The SEC’s recent losses against other players in the crypto space may impact the outcome, but it is too early to call a defeat for the SEC.
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