The third possible conclusion, according to Deaton, is that the SEC wins outright. He also touched upon the impact of the banking crisis and the global implications it had. John Deaton will serve as your trial attorney. Russia To Use Evil Cryptocurrency For Foreign Trade; Heres Why. A slew of measures initiated by the US Federal Reserve and easing market conditions were believed to be saving the US banking sector from a widespread banking collapse. Initially, in the memorandum of the law, Attorney John Deaton argued in favor of XRP. XRP Holders are Seeking intervention in the SEC's Lawsuit Against The truth is the SEC does not have clean hands and has not and is not honoring its mission to protect investors. According to Deaton, Genslers views imply that the SEC might find grounds for a crackdown on cryptocurrencies in various circumstances. "We were all granted amicus status today!" Also Read: Binance CEO CZ Calls For Unity In Crypto Industry Amid FUD Over Rumors, Deaton, who is known for the sharp criticism against the SECs enforcement actions, talked about the potential use case of Bitcoin acting as the digital dollar. 02-16-00188-CV JOHN E. DEATON AND DEATON LAW FIRM, L.L.C. "My outrage has grown as the litigation has unfolded," he said. Interestingly, as of today, there are now over 70,000 XRP holders who have joined Deatons class action against the SEC. The SEC sued Ripple in late 2020 under allegations that the company sold XRP as an unregistered security. Deaton is also the founder of the website CryptoLaw, which was launched in 2021 to be a clearinghouse of information, news and analysis on key U.S. legal and regulatory developments for digital asset holders, as well as the host of the YouTube channel CryptoLaw. After the collapse of Silvergate and Signature Bank in March, the decline of First Republic Bank (FRC) stock raised fresh concerns over stability in the sector. John Deaton Archives - CryptoLaw Ripple's founders created XRP in 2012. An incorrect link to a court document has also been replaced. Lawyer Crypto Expert Says Banking Crisis Just Starting; Heres Why Law360 provides the intelligence you need to remain an expert and beat the competition. Coinpedia - Trusted Crypto Agency for News, Information, Exchange, PR, Blockchain Events, Crypto Wallet and Else related to Decentralized World. John E. Deaton, Managing Partner at The Deaton Law Firm and lawyer for approximately 11,000 XRP holders in the context of the SEC v Ripple lawsuit, has stated
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