John DeatonPro-XRP Lawyer Says U.S. Securities and Exchange Commission (SEC) Misfires in File for Facilitating and Abetting Charges Against XRP Brad GarlinghouseCEO of Ripple.
deaton underlined statements from former SEC officials Bill Hinman And Jay Clayton, During the SEC and Ripple Labs lawsuitwould classify XRP (XRP) was considered non-security information from the beginning, but the agency deliberately ignored this information for a long time.
At X (formerly Twitter), Digital Asset Investor.XRP user he declared if he had a choice he would call the lawyers Lowell Ness And Chris Dixon a16z, along with former SEC officials, became the first witnesses to the legal battle between the SEC and Ripple Clayton And hinman.
Deaton acknowledged that Hinman was required to testify, but there was no way to legally summon a former SEC chairman for trial.. However, Deaton argues that the SEC erred in its decision to impeach Garlinghouse, especially given Clayton’s propensity to file personal complaints against executives in a non-fraudulent context.
Lawyer argues Clayton was of paramount importance as a witness. Most importantly, Clayton did an interview with Ripple’s CEO and Chief Technology Officer, and Garlinghouse said: “Ripple Lives in Purgatory” After Hinman’s speech. But, Neither Clayton nor Hinman made it clear that XRP is a security.
Relating to: In South Korea, Generation Z prefers XRP and other altcoins over BTC and ETH
Getting clarification from Clayton and Hinman could have avoided legal costs and wasted timepotentially promoting the adoption of cryptocurrency. Despite Judge Analisa Torres’ decision that in some cases XRP is not a security, the SEC aims to overturn the ruling.
Recently, a large XRP whale carried $20 million worth of tokens on exchanges as it continued to break price support levels.