XRP Holder’s Lawyer Criticizes SEC’s Approach to Ripple Lawsuit
John Deaton, a lawyer representing XRP holders, has once again criticized the U.S. Securities and Exchange Commission (SEC) for its handling of the lawsuit against Ripple Labs Inc. Deaton argues that the SEC is refusing to acknowledge any changes in the case, including the recent ruling by Judge Analisa Torres.
The Deaton Exception
In Deaton’s analysis, he expected Judge Torres to grant the SEC’s request for an interlocutory appeal. This would have allowed her to provide further explanation and address any concerns raised by Judge Jed Rakoff in a similar case. However, Deaton believes that the SEC’s request for an appeal is a desperate tactic from a regulator that has lost the case.
Many cases in the crypto ecosystem are interconnected, with each ruling serving as a precedent for others. The ruling by Judge Torres has already influenced the defense strategy in other cases, highlighting its significance.
XRP Lawyer Confident in Ultimate Victory
Just as Ripple Labs secured a win in the XRP lawsuit earlier this year, Deaton is confident that another victory is on the horizon. The SEC has been facing multiple losses recently, including in the Grayscale Bitcoin ETF legal battle. Experts believe that the regulator should reconsider its enforcement tactics and adopt more balanced regulation.
Hot Take: SEC’s Unyielding Stance Raises Concerns
The ongoing Ripple lawsuit has brought attention to the SEC’s approach and sparked concerns among crypto enthusiasts. The regulator’s refusal to adapt or consider alternative perspectives undermines its credibility and raises questions about its effectiveness in regulating the industry fairly. As more cases intertwine, it becomes increasingly important for regulators like the SEC to demonstrate flexibility and openness to ensure a healthy and thriving crypto ecosystem.
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