- 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.
I’ve said for 2 years: Clarity comes from the Courts - not Congress - and not the SEC. It’s not the way it should be but it’s the way it is and the way it’s going to be. Hell, the Ripple case could be heard by the Supreme Court before Congress acts. We must fight in the Courts. https://t.co/9KZxhI7IFN
— John E Deaton (@JohnEDeaton1) March 14, 2023
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 @SECGov budget proposal, @GaryGensler emphasizes the agency's intention to ramp up #crypto enforcement.
— Eleanor Terrett (@EleanorTerrett) March 13, 2023
More $$ means more hiring and SEC has already said it plans to add extra staff to its digital assets enforcement squad which has nearly doubled in size in a year. https://t.co/CPI868AeHf pic.twitter.com/oTU58IOuNI
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.”
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