Ripple vs SEC: new revelations from lawyer John Deaton

The case between Ripple and the United States Securities and Exchange Commission seems to be dragging on. For lawyer John Deaton, the regulator is not telling the truth about its main objective regarding this lawsuit. He even went so far as to say that ” SEC lawsuit not limited to Ripple sales “.

Does the SEC have other hidden intentions regarding Ripple?

Deaton exposes SEC shenanigans

The SEC’s legal action is not limited to the sales of Ripple, however. The SEC has alleged that all #XRP, regardless of who sells it, is still a security. This is what caused @coinbase @krakenfx and others to suspend/remove #XRP. Yet despite all of this, #XRP remains a Top 10 crypto today. »

In his comment-laden tweet, John Deaton, founder of Crypto Law, highlighted the strength of Ripple. For him, the company launched by Chris Larsen since 2013 has always seen XRP integrate the top 10 cryptocurrencies. This is what leads him to deduce that by suing Ripple, the SEC “ not limited to sales of its crypto currency, XRP.

Regulator would tend to consider XRP sales akin to a security, reports Investing.com. Incidentally, this consideration motivated Coinbase, Kraken and others to remove XRP from their crypto exchange platform.

Fortunately, these decisions did not affect Ripple’s situation.

#XRP has been in the Top 10 cryptocurrencies for a decade. When FinCEN settled its differences with @Ripple in 2015, #XRP was #2. Between 2017 and 2018, it constantly battled against #ETH for second place. In October 2018, even after Hinman gave #ETH a pass, #XRP was briefly #2. XRP was #3 when the SEC sued Ripple in December 2020. »

XRP, this misunderstood cryptocurrency

This spurt of tweets was prompted by a November 25 post from influencer Lark Davis. Deaton didn’t hesitate to call him ” naive if he still thinks that Ripple’s value will go down after Matic and Aave decided to settle USD in JPY.

Lark Davis’ fear over the future of Ripple

So…if JP Morgan uses $matic and $aave to settle FX trades to JPY, then what is the value proposition for #XRP now? »

To conclude his speech, or his support for Ripple, John Deaton clarified that this company uses the XRP Ledger. It is quite surprising, in his eyes, that this cryptocurrency remains “ misunderstood despite its performance since its creation.

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