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HomeCrypto NewsMarketPro-XRP Attorney Says SEC Will Lose as Judge Slams Its Arguments 

Pro-XRP Attorney Says SEC Will Lose as Judge Slams Its Arguments 


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Attorney John Deaton believes the Securities and Exchange Commission will lose. 

In a recent tweet, CryptoLaw founder attorney John Deaton asserted that the United States Securities and Exchange Commission (SEC) would lose.  

The pro-XRP lawyer made this known in response to a tweet by former SEC enforcement official John Reed Stark. In an April 17 tweet, Stark noted that the SEC had commenced a major crackdown on US-based cryptocurrency exchanges. 

Stark also shared four recent events indicating that crypto trading platforms will have to stop operating in the United States in their current form. 

Deaton Thinks Otherwise  

Reacting to the tweet, attorney Deaton said the Securities and Exchange Commission would lose. Deaton backed this assertion by citing four examples of how different Judges found the SEC’s arguments to be without merit. 

According to Deaton, the Judge in the Ripple lawsuit shamed the SEC for lacking faithful allegiance to the law. For context, the statement was previously made by Judge Sarah Netburn during the argument about William Hinman’s speech.

Furthermore, Deaton said the Judge in the LBRY v. SEC lawsuit slammed the securities regulator over the lack of regulatory clarity.  

Per Deaton, the Judge in the Grayscale lawsuit stated that the regulator’s arguments made no sense. Lastly, Deaton said the Judge in the Voyager lawsuit blasted the Securities and Exchange Commission’s ethics and behavior. 

SEC’s recent regulatory crackdown against crypto companies has sparked reactions among enthusiasts. Many believe the SEC’s adverse enforcement actions against crypto might drive innovation out of the United States. It is interesting to note that Ripple’s General Counsel Stuart Alderoty shares this sentiment. 

However, the agency does not care about these concerns, as it continues its regulatory crackdown against crypto businesses. On April 17, the SEC charged popular cryptocurrency trading platform Bittrex and its founder with operating an unregistered national securities exchange. 

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Lele Jima
Lele Jima
Lele Jima is a cryptocurrency enthusiast and journalist who is focused on educating people about how the nascent asset class is transforming the world. Aside from cryptocurrency-related activities, Jima is a lover of sports and music.

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