XRP holder’s lawyer, John Deaton has once again called out the United States Securities and Exchange Commission (SEC) for its unrepentant approach toward the lawsuit filed against blockchain payments firm, Ripple Labs Inc.
The Deaton Exception
According to the highly vocal crypto lawyer, the Gary Gensler-led regulator is so comfortable with its own version of the lawsuit that it is failing to see any shift even as instituted in the latest ruling from Judge Analisa Torres.
In Deaton’s latest analysis, John Deaton said he actually expected Judge Analisa Torres to grant the request for the Interlocutory request that was filed by the SEC.
“I believe the move allows the judge to fully explain her reasoning in the case, further making it “appeal-proof,” as well as providing her the opportunity to address anything Judge Jed Rakoff has said,” Deaton wrote in a recent CryptoLaw article, adding that “Judge Rakoff, presiding over the SEC v. Terraform Labs case, rejected the company’s motion to dismiss, and disagreed with Judge Torres’ approach regarding Howey.”
Many cases in the crypto ecosystem are interlocked at the moment with each case forming a good basis as a precedent for the others yet to bag a ruling. For instance, Do Kwon and the LBRY case are building a whole new defense based on the ruling from Judge Torres, underscoring just how important the case is in the grand scheme of things.
In his assessment, Deaton claimed the request for Appeal by the SEC is a ‘desperate tactic of a regulator who lost the case.”
XRP Lawyer Believes in Ultimate Win
Just as Ripple Labs nabbed a win in the XRP lawsuit back in July, Deaton is convinced that another win is on the horizon.
The SEC has actually been on a major losing streak in recent times as measured by both the Ripple Lawsuit and the Grayscale Bitcoin ETF legal brawl. More experts believe the regulator might work better in the interest of all if it can just change its regulation by enforcement tactics beginning with the ongoing XRP lawsuit.