|

Defense lawyer John E Deaton wants to take up the SEC vs Ripple lawsuit with the Supreme Court for clarity

  • John E Deaton wants the court to provide clarity on the lawsuit between the SEC and Ripple.
  • The defense lawyer says neither Congress nor the SEC has grounds to give direction.
  • The comments come after journalist Eleanor Terrett’s post on the SEC’s plans to implement more strategies for proper compliance in the crypto space.

Defense lawyer John E Deaton, known for being overly vocal about the ongoing SEC vs Ripple case, had his latest outburst on Tuesday morning, March 14, when he said, “Clarity comes from court,” not from Congress or the Securities and Exchange Commission (SEC). It is the same message Deaton has been repeating since 2021.

The defense attorney also noted that the lawsuit could be heard by the Supreme Court, demonstrating the openness to defend the case himself. Notably, the statement was in response to a Twitter post by a journalist at the American media company for Fox Business, Eleanor Terrett, who mentioned the SEC’s Congressional Budget proposal in her own post.

In the post, Terret highlighted the agency’s plan to “ramp up crypto enforcement.” She supported her comment with a snapshot of the budget proposal, drawing her follower’s attention to the area where the agency describes their plans to implement more strategies for enhanced compliance in the crypto space.

While we ensure that the issuers, intermediaries, and tokens properly come into compliance, we will not hesitate to use every tool in our toolbox to root out non-compliance such as through investigations and enforcement actions.

In a recent announcement by Jeremy Hogan, the US lawyer said that the presiding judge Analisa Torres could have already determined whether XRP is a security. In response to this comment, lawyer Deaton said that the court approves that the “provision itself is not a security.”

Author

Lockridge Okoth

Lockridge is a believer in the transformative power of crypto and the blockchain industry.

More from Lockridge Okoth
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

XRP steadies above $1.90 support as fund inflows and retail demand rise

Ripple (XRP) is stable above support at $1.90 at the time of writing on Monday, after several attempts to break above the $2.00 hurdle failed to materialize last week. Meanwhile, institutional interest in the cross-border remittance token has remained steady.

Cardano struggles to extend gains as retail interest wanes despite Midnight's NIGHT token launch

Cardano ticks higher after a bearish weekend, struggling to extend an upcycle within a descending wedge pattern. On-chain data shows an increase in trading volume and user activity after the Midnight side chain token launch.

Crypto Today: Bitcoin, Ethereum recover as XRP remains supported by ETF inflows

Bitcoin is trending up toward the pivotal $90,000 level at the time of writing on Monday, which marks four consecutive days of gains. Altcoins, including Ethereum and Ripple, are also rebounding above key short-term support levels.

Bitcoin nears $90,000 as recovery hopes clash with institutional outflows

Bitcoin is approaching the $90,000 resistance level at the time of writing on Monday, raising hopes of a short-term recovery. However, the bullish recovery is being challenged by weakening institutional demand, as evidenced by outflows from Spot ETFs.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.