In a significant development in the ongoing US Securities and Exchange Commission (SEC) vs Ripple case, prominent pro-crypto lawyer and Republican candidate John Deaton has taken a stand to represent Ripple (XRP) holders as an amicus counsel.
According to a post by Fox journalist Eleanor Terrett, a filing for Deaton’s appearance as amicus counsel in the Second Circuit rendition of the SEC vs Ripple case has surfaced on the docket. This move by Deaton comes amidst the legal battle between SEC and Ripple, with implications for the entire crypto industry.
The case was docketed on October 23 at 12:4 PM EDT, as evidenced by screenshots shared in the post. Deaton’s decision to represent XRP holders highlights his commitment to the crypto community and the importance of ensuring regulatory clarity in the crypto space.
Deaton’s comments shed light on the legal nuances of the case, emphasizing the ruling by Judge Torres that “XRP itself is NOT a security” and the legality of XRP sales on exchanges like Coinbase. He also criticizes SEC Chair Gary Gensler and the government for their handling of the case, pointing out inconsistencies in their allegations against Ripple and Coinbase.
Furthermore, Deaton’s proactive efforts in submitting XRP Holder Affidavits to the court and advocating for token holders demonstrate his dedication to upholding fairness and transparency in the crypto industry. His intention to continue representing token holders in the SEC appeal reflects his commitment to advocating for innovation and protecting the rights of crypto investors.
Notably, intervenors Kristiana Warner, James Lamonte, and Jordan Deaton will be represented by John Deaton in the case, underscoring his expertise and influence in the crypto and NFT field. Deaton’s involvement in the SEC vs Ripple case signifies a pivotal moment in the legal landscape of the crypto industry, with far-reaching implications for the future of digital assets and blockchain technology.
