XRP attorney John Deaton robustly responded to critics of Judge Torres' recent ruling on the Securities and Exchange Commission's (SEC) case against Ripple in a series of tweets.
Deaton, who has long been challenging the SEC's actions regarding cryptocurrencies, particularly XRP, took the opportunity to rebuke those who have criticized Torres for her decision.
The attorney clarified his position, explaining that had he owned Bitcoin (BTC) in 2013 when SEC officials were declaring it security, he would've taken legal action against the SEC, just as he has with the current situation involving Ripple's XRP. Furthermore, he would have done the same if the SEC had made similar allegations against Ethereum (ETH).
He highlighted the fact that his investments in both BTC and ETH were significantly larger than his stake in XRP, underlining his legal actions are motivated by principle, not personal gain.
Alex DovbnyaDeaton maintained that his opposition to the SEC's overreach was not just as an XRP investor but as a legal advocate for fair and transparent regulations in the cryptocurrency market.
In his final tweets, Deaton defended Judge Torres' ruling, stating that it was a sound decision based on a strict application of the Howey factors.
He noted that the SEC had failed to establish a common enterprise factor for XRP. Furthermore, he highlighted Torres' strong record on appeal and predicted that the SEC would need more than luck to reverse her decision. Deaton's ardent defense of Judge Torres' ruling and criticism of the SEC sends a strong message to those critiquing the decision: fairness and principle must prevail in the world of cryptocurrency regulation.
Arman Shirinyan
Vladislav Sopov
Dan Burgin
U.Today Editorial Team