Pro XRP Attorney John Deaton Officially Joins LBRY Lawsuit as Legal Representative

Pro XRP Attorney John Deaton Officially Joins LBRY Lawsuit as Legal Representative

Attorney John Deaton Joins LBRY Lawsuit as Amicus Curiae

Attorney John Deaton, who is well-known for representing XRP Ripple (XRP) token holders in their legal battle against the SEC, has filed a formal notice of appearance as an Amicus Curiae in the LBRY lawsuit. This comes after LBRY filed an appeal notice to contest the final judgment that ordered them to pay a civil penalty and prohibited their engagement in unregistered offerings of digital currency securities.

Deaton’s Notice of Appearance

Deaton submitted his Notice of Appearance on behalf of Amicus Curiae Naomi Brockwell. Both Deaton and Brockwell are co-founders of Cryptocurrency Law, a platform that provides updates on legal and regulatory developments related to digital assets. Deaton confirmed this development with a tweet, stating, “Win, lose or draw, we will be in the fight!”

The SEC’s Scrutiny of LBRY

In March 2021, the SEC argued that LBRY Credit token (LBC) was a security under the 1933 Securities Act, initiating its scrutiny of LBRY. In November 2022, a New Hampshire District Court ordered LBRY to pay $22 Million to the SEC, considering LBC an unregistered security based on the Howey test.

Understanding the Ethereum ETF and its potential impact on the crypto market: Insights from VanEck’s launch

Challenging the Ruling

LBRY challenged the ruling, arguing that the $22 Million penalty did not account for legitimate business expenses. The SEC requested a reduced penalty due to LBRY’s insolvency, resulting in a revised sum of $111,614. Regardless of intends to cease operations gradually, recent legal victories by Ripple and Grayscale against the SEC have given LBRY hope for a favorable outcome in their appeal.

Seizure of Over $2.8M Linked to JPEX Fraud: Hong Kong and Macau Police Take Action

Hot Take: John Deaton Joins LBRY Lawsuit as an Advocate for Cryptocurrency Community

Attorney John Deaton’s decision to participate in the LBRY lawsuit as an Amicus Curiae demonstrates his commitment to representing the interests of the cryptocurrency community. With his experience in the legal battle against the SEC on behalf of XRP Ripple (XRP) token holders, Deaton brings valuable expertise to the case. The involvement of Cryptocurrency Law co-founders Deaton and Brockwell further solidifies their dedication to providing updates on legal and regulatory developments in the digital asset space. This development raises hopes for a positive outcome for LBRY in their appeal, especially in light of recent legal victories by other cryptocurrency entities against the SEC.

Legal Experts Assess Potential Jail Time for Sam Bankman-Fried in Crypto-Related Case
Author – Contributor at | Website

Owen Patter is a distinguished crypto analyst, accomplished researcher, and skilled editor, leaving a notable imprint on the cryptocurrency landscape. As a proficient crypto analyst and researcher, Owen delves into the intricate realms of digital assets, offering insights that resonate with a diverse audience. His analytical acuity is harmoniously paired with adept editorial skills, allowing him to transform complex crypto information into easily comprehensible content.

Valkyrie Suspends Ethereum Futures Contract Purchases for ETF
Read Disclaimer
This page is simply meant to provide information. It does not constitute a direct offer to purchase or sell, a solicitation of an offer to buy or sell, or a suggestion or endorsement of any goods, services, or businesses. does not offer accounting, tax, or legal advice. When using or relying on any of the products, services, or content described in this article, neither the firm nor the author is liable, directly or indirectly, for any harm or loss that may result. Read more at Important Disclaimers and at Risk Disclaimers.

Follow us

Latest Crypto News

Share via
Share via
Send this to a friend