{"id":553748,"date":"2023-10-02T19:00:46","date_gmt":"2023-10-02T19:00:46","guid":{"rendered":"https:\/\/wncen.com\/?p=553748"},"modified":"2024-06-11T07:56:40","modified_gmt":"2024-06-11T07:56:40","slug":"pro-xrp-lawyer-sec-ripple","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/pro-xrp-lawyer-sec-ripple\/","title":{"rendered":"Pro-XRP Lawyer Reveals The Impact Of SEC\u2019s Lawsuit Against Ripple"},"content":{"rendered":"<p><span style=\"font-weight: 400\">A pro-XRP lawyer has highlighted more casualties and negative impacts the regulatory authority has inflicted on XRP and its investors as well as individuals and businesses associated with the cryptocurrency.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">So while Ripple has stated it has lost over $200 million in its fight against the US SEC, it seems that is not the only loss that has been incurred in the drawn-out battle.\u00a0<\/span><\/p>\n<h2>SEC Allegedly Damaged 75K XRP Followers<\/h2>\n<p><span style=\"font-weight: 400\">John E. Deaton, a pro-XRP lawyer has taken to X (formerly Twitter) to publicly admonish the United States Securities and Exchange Commission (SEC) for its series of legal actions and enforcements against XRP, the native token of Ripple Labs.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/analysis\/xrp\/crypto-ceo-bullish-xrp-price\/\">Crypto CEO Very Bullish On XRP Price, Sets Make Or Break Point<\/a><\/div>\n<p><span style=\"font-weight: 400\">Deaton has been a <\/span><a href=\"https:\/\/bitcoinist.com\/pro-xrp-attorney-deaton-prestigious-award\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">strong advocate for XRP <\/span><\/a><span style=\"font-weight: 400\">since its fight against the US SEC began in 2020, and the cryptocurrency enthusiast and lawyer has actively participated in the community, airing out his <\/span><a href=\"https:\/\/bitcoinist.com\/ripple-sec-xrp-lawyer-deaton-exposes-dubious-ties\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">views in defense of the cryptocurrency <\/span><\/a><span style=\"font-weight: 400\">and its value as a global payment asset.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">In a recent post, Deaton <\/span><a href=\"https:\/\/x.com\/johnedeaton1\/status\/92622663?s=46\" rel=\"nofollow\"><span style=\"font-weight: 400\">stated<\/span><\/a><span style=\"font-weight: 400\"> that the US SEC has negatively affected thousands of XRP investors and users and these people have been protesting against the SEC\u2019s actions toward the ecosystem for three years.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cThe SEC harmed a lot of innocent people in the process. 75K investors, users, developers, and small businesses have been screaming the above for 3 years,\u201d Deaton stated.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to a <\/span><a href=\"https:\/\/ripple.com\/files\/ripple_motion_for_summary_judgement.pdf\" rel=\"nofollow\"><span style=\"font-weight: 400\">civil filing<\/span><\/a><span style=\"font-weight: 400\">, the SEC has destroyed more than $15 billion worth of assets owned by innocent holders of XRP who had acquired the token on secondary marketplaces.<\/span><\/p>\n<h2>Ripple And SEC Legal Battle Developments<\/h2>\n<p><span style=\"font-weight: 400\">RealClearPolicy (RCPC), an American policy website, recently <\/span><a href=\"https:\/\/www.realclearpolicy.com\/articles\/2023\/09\/28\/the_sec_is_not_the_king_982634.html\" rel=\"nofollow\"><span style=\"font-weight: 400\">published<\/span><\/a><span style=\"font-weight: 400\"> an article titled \u201cThe SEC is not King\u201d on Thursday, September 30.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">In an <\/span><a href=\"https:\/\/x.com\/jungleincx\/status\/14049477?s=46\" rel=\"nofollow\"><span style=\"font-weight: 400\">X repost<\/span><\/a><span style=\"font-weight: 400\">, Deaton acknowledged the article which highlighted significant aspects of the Ripple and SEC legal case from when the regulatory body filed a <\/span><a href=\"https:\/\/wncen.com\/analysis\/xrp\/xrp-price-plummets-as-sec-targets-the-ripple-backed-cryptocurrency\/\"><span style=\"font-weight: 400\">lawsuit<\/span><\/a><span style=\"font-weight: 400\"> against the crypto firm earlier in 2020, alleging that Ripple was selling unregistered security offerings.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Ripple had aggressively <\/span><a href=\"https:\/\/bitcoinist.com\/ripple-president-sec-lawsuit\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">defended itself against the SEC<\/span><\/a><span style=\"font-weight: 400\"> and achieved a partial victory after Judge Analisa Torres ruled in favor of Ripple and rejected the SEC\u2019s allegations that sales of XRP tokens on exchanges are security sales.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">In a possible attempt to salvage its reputation and also gain the upper hand against XRP, the <\/span><a href=\"https:\/\/bitcoinist.com\/ripple-ceo-remains-optimistic-amidst-sec-appeal\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">SEC filed an interlocutory appeal<\/span><\/a><span style=\"font-weight: 400\"> to reevaluate the Judge\u2019s ruling and its case against the token. In light of this, Deaton published a blog post titled \u201cThe Irony of Interlocutory Appeal\u201d last week, <\/span><a href=\"https:\/\/bitcoinist.com\/ripple-vs-sec-pro-xrp\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">castigating the SEC\u2019s appeal scheme<\/span><\/a><span style=\"font-weight: 400\"> to potentially delay the litigation.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/xrp-price-threatened-as-ripple-unlocks-1-billion-coins\/\">XRP Price Threatened As Ripple Unlocks 1 Billion Coins<\/a><\/div>\n<p><span style=\"font-weight: 400\">The US SEC has also been struck by a blow that may put a dent in its case with XRP. The defense team of Ripple recently exposed a pile of internal SEC documents and secret positions about the token which could significantly undermine the SEC\u2019s argument that XRP should be treated as a security.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">This recent development has thrown a curveball in the ongoing legal battle between the US SEC and XRP, raising questions about the SEC\u2019s intentions for the crypto industry and its method of handling cryptocurrencies.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.tradingview.com\/x\/pZfNtL6g\/\" alt=\"Ripple XRP price chart from Tradingview.com (Pro-XRP lawyer SEC)\" width=\"2884\" height=\"1746\"><\/p>\n<pre style=\"text-align: center\">Token price shows strength to kick off new week | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">XRPUSD on Tradingview.com<\/a><\/pre>\n<div class=\"disclaimer-shortcode\">Featured image from Bitcoin News, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>A pro-XRP lawyer has highlighted more casualties and negative impacts the regulatory authority has inflicted on XRP and its investors as well as individuals and businesses associated with the cryptocurrency.\u00a0 So while Ripple has stated it has lost over $200 million in its fight against the US SEC, it seems that is not the only loss that has been incurred in the drawn-out battle.\u00a0 SEC Allegedly Damaged 75K XRP Followers John E. Deaton, a pro-XRP lawyer has taken to X (formerly Twitter) to publicly admonish the United States Securities and Exchange Commission (SEC) for its series of legal actions and enforcements against XRP, the native token of Ripple Labs.\u00a0 Related Reading: Crypto CEO Very Bullish On XRP Price, Sets Make Or Break Point Deaton has been a strong advocate for XRP since its fight against the US SEC began in 2020, and the cryptocurrency enthusiast and lawyer has actively participated in the community, airing out his views in defense of the cryptocurrency and its value as a global payment asset.\u00a0 In a recent post, Deaton stated that the US SEC has negatively affected thousands of XRP investors and users and these people have been protesting against the SEC\u2019s actions toward the ecosystem for three years. \u201cThe SEC harmed a lot of innocent people in the process. 75K investors, users, developers, and small businesses have been screaming the above for 3 years,\u201d Deaton stated.\u00a0 According to a civil filing, the SEC has destroyed more than $15 billion worth of assets owned by innocent holders of XRP who had acquired the token on secondary marketplaces. Ripple And SEC Legal Battle Developments RealClearPolicy (RCPC), an American policy website, recently published an article titled \u201cThe SEC is not King\u201d on Thursday, September 30.\u00a0 In an X repost, Deaton acknowledged the article which highlighted significant aspects of the Ripple and SEC legal case from when the regulatory body filed a lawsuit against the crypto firm earlier in 2020, alleging that Ripple was selling unregistered security offerings.\u00a0 Ripple had aggressively defended itself against the SEC and achieved a partial victory after Judge Analisa Torres ruled in favor of Ripple and rejected the SEC\u2019s allegations that sales of XRP tokens on exchanges are security sales.\u00a0 In a possible attempt to salvage its reputation and also gain the upper hand against XRP, the SEC filed an interlocutory appeal to reevaluate the Judge\u2019s ruling and its case against the token. In light of this, Deaton published a blog post titled \u201cThe Irony of Interlocutory Appeal\u201d last week, castigating the SEC\u2019s appeal scheme to potentially delay the litigation. Related Reading: XRP Price Threatened As Ripple Unlocks 1 Billion Coins The US SEC has also been struck by a blow that may put a dent in its case with XRP. The defense team of Ripple recently exposed a pile of internal SEC documents and secret positions about the token which could significantly undermine the SEC\u2019s argument that XRP should be treated as a security.\u00a0 This recent development has thrown a curveball in the ongoing legal battle between the US SEC and XRP, raising questions about the SEC\u2019s intentions for the crypto industry and its method of handling cryptocurrencies. Token price shows strength to kick off new week | Source: XRPUSD on Tradingview.com Featured image from Bitcoin News, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":553756,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,88655,16894,83363],"tags":[88118,89544,3680,17209,85514,3799,89194,4531,83637,13172,15299,10972,78763],"class_list":["post-553748","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-ripple-2","category-ripple","category-xrp","tag-john-deaton","tag-pro-xpr-lawyer","tag-ripple","tag-ripple-news","tag-ripple-vs-sec","tag-sec","tag-sec-news","tag-xrp","tag-xrp-news","tag-xrp-price","tag-xrp-security","tag-xrpusd","tag-xrpusdt"],"acf":[],"yoast_head":"\n<title>Pro-XRP Lawyer Reveals The Impact Of SEC\u2019s Lawsuit 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