• John Deaton, crypto lawyer and legal representative of XRP holders in the Ripple vs. SEC lawsuit, has defended Judge Analisa Torres‘ recent decision in the case.
• He argued that the SEC was so desperate that it asked Judge Torres to adopt a standard that the 2nd Circuit never had.
• Deaton outlined why Judge Torres’ decision was correct, noting that thousands of XRP holders acquired the asset for non-investment purposes and were unaware of Ripple’s existence or ownership of half of all XRP.
John Deaton is a crypto lawyer and legal representative of XRP holders in a lawsuit between Ripple and the U.S. Securities and Exchange Commission (SEC). He recently slammed haters and critics of Judge Analisa Torres who made a recent ruling in this ongoing case.
Deaton explained that thousands of XRP holders acquired the crypto asset for non-investment purposes, unaware of Ripple’s existence or ownership of half of all XRP. He also noted that the SEC was so desperate that it asked Judge Torres to adopt a standard that the 2nd Circuit never had.
Reason Behind The Decision
The lawyer further provided reasons behind why he believes Judge Torres’ decision was sound; most first-time buyers bought XRP because it was one of top three cryptocurrencies and transactions are settled within 3-5 seconds with low costs compared to Bitcoin or Ethereum.
Critics have claimed that Judge Torres‘ decision was inconsistent with policy considerations behind the 1934 Securities Act; however Deaton insists these claims are unfounded as there is no basis for them being true.
In conclusion, John Deaton has defended Judge Analisa Torres‘ ruling on this ongoing case between Ripple and SEC as being sound based on his experience as a crypto lawyer representing XRP holders, highlighting how much desperation exists at the SEC to find any means necessary to prove its case against Ripple