- John Deaton, a well-known figure in the crypto community, has shared critical insights regarding the Coinbase-SEC lawsuit.
- Deaton revealed that 2331 Coinbase customers have expressed their desire to participate in the lawsuit as “amicus curiae”.
- Deaton, who previously represented 75,000 XRP investors in the SEC-Ripple case, emphasizes the importance of these applications, not to defend Coinbase, but to secure the right to speak for themselves.
John Deaton Sheds Light on Coinbase-SEC Lawsuit
John Deaton, a familiar name in the world of cryptocurrency, has provided valuable insights into the ongoing lawsuit between Coinbase and the Securities and Exchange Commission (SEC). Deaton, who has previously been involved in the Ripple-SEC case as an “amicus curiae”, has revealed that 2331 Coinbase customers have expressed their interest in participating in the lawsuit in the same capacity.
Understanding the Role of “Amicus Curiae”
The term “Amicus Curiae” is a Latin phrase that has found its place in English legal terminology. It refers to a person or organization that contributes to a lawsuit as an expert or knowledgeable party. It’s crucial to note that an individual or entity participating in a case as an “amicus curiae” should not have any affiliation with either party involved in the lawsuit. This role is particularly significant in technical matters, where the court can benefit from the specialized knowledge provided by the “amicus curiae”.
The Impact of “Amicus Curiae” on Legal Outcomes
Entities or individuals acting as “Amicus Curiae” can significantly influence the outcomes of a lawsuit. Their expert knowledge and insights can provide valuable perspectives that can sway the court’s decision. Deaton, a lawyer by profession, had previously applied to participate in the SEC-Ripple lawsuit as an “amicus curiae”, representing 75,000 XRP investors.
Deaton emphasizes that the applications from Coinbase customers to participate as “amicus curiae” are not about defending Coinbase. Instead, these applications are about securing the right to voice their opinions and perspectives. This development underscores the importance of these applications in shaping the future of cryptocurrency regulations.
