spot_imgspot_imgspot_img

Ripple (XRP) Attorney Speaks Up: SEC’s Misjudgment Exposed!

  • John Deaton, Ripple’s lawyer, criticized the SEC’s logic regarding XRP secondary sales.
  • Deaton challenged the SEC to provide evidence of an investment contract between a buyer and seller or supporter without any confidentiality or contact.
  • Deaton argued that the SEC lacks evidence to support its claim that secondary market sales are securities.

John Deaton, Ripple’s lawyer, has expressed his disagreement with the SEC’s claims about XRP secondary sales. He challenged the SEC to provide evidence of an investment contract without any confidentiality or contact between parties. According to Deaton, the SEC lacks evidence to support its theory that secondary market sales are securities. He also disagrees with the notion that the SEC has the right to pursue unsupported new theories. Deaton believes that if the SEC is presenting new and unsupported theories, then the Fair Notice Defense should be applied. He further suggests that the judge in the Ripple-SEC case will likely address the issue of secondary market sales and may provide more information on the matter.

Ripple’s Lawyer Disagrees with SEC’s Claims on XRP Secondary Sales

Ripple’s lawyer, John Deaton, took to Twitter to express his disagreement with the SEC’s claims about XRP secondary sales. He challenged the SEC to provide a single example that proves the existence of an investment contract without any confidentiality or contact between a buyer and seller or supporter. According to Deaton, the SEC has failed to provide evidence to support its claims.

“Excellent 🧵although I’m certainly one of the lawyers discussing unnecessary issues. I don’t mind the comment b/c I agree w/it. Unfortunately, when the SEC takes the position that ‘The XRP traded, even in the secondary market…represents the investment contract’ one is forced to.”

– John E Deaton (@JohnEDeaton1) June 19, 2023

Deaton argues that there is no evidence to support the SEC’s theory that secondary market sales are securities when considering all the laws. He also disagrees with those who claim that the SEC has the right to pursue unsupported new theories. According to Deaton, if the SEC is presenting new and unsupported theories, then the Fair Notice Defense should be applied.

XRP ripple

Deaton believes that the judge in the Ripple-SEC case will likely address the issue of secondary market sales. He suggests that the judge may not remain silent, especially considering the various amicus briefs submitted in the Ripple dispute, which could provide more information about secondary market sales.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news

spot_imgspot_imgspot_imgspot_img

Latest News

Bitcoin Approaches Its Next Halving: Can This Time Be Different?

As Bitcoin nears another halving, the crypto community watches closely, anticipating its potential impact on the market amidst evolving circumstances.

Bitcoin Funding Rate Dips Negative Amid $251M ETF Inflows: A Bearish Signal or Market Resilience?

This article delves into the recent negative turn in Bitcoin's funding rate against a backdrop of significant ETF inflows, exploring whether this signals a bearish trend or underscores the cryptocurrency's resilience.

Massive XRP Transfer Raises Concerns: XRP May Experience Selling Pressure!

The substantial transfers of XRP have garnered attention; will the transfers to Bitso and Bitstamp create selling pressure on XRP?

Uniswap Introduces “uni.eth” Subdomains with ENS Integration: Here are the Details!

Decentralized exchange platform Uniswap has introduced uni.eth subdomains with Ethereum Name Service integration.

Ripple Initiates Collaboration with Zoniqx to Empower Asset Tokenization

Ripple, a leading enterprise blockchain and crypto solutions provider, joins forces with Zoniqx: Here are the details!
spot_imgspot_imgspot_imgspot_img

PRO Analysis

Ethereum Breaks $3K as Rally Continues: What’s Next for ETH?

This article dives into Ethereum's recent surge past $3,000, analyzing the technical indicators and market dynamics driving its ascent and future prospects.

Will Bitcoin Rise To $50,000? Current BTC Analysis

Bitcoin is trading at $48,400 and may rise to $50,777 if it closes above $48,200. However, caution is advised in the range of $50,777 - $52,000. Corrections are common in the crypto market, so careful consideration is necessary before spot investments.

Where is the Solana Rise Target? Current SOL Analysis!

Solana is trading near the $108 resistance on the 8-hour chart, with a potential target of $111.84 if it surpasses this level. However, caution is advised in the $111.84 - $117.20 resistance range on the 6-hour timeframe.

Medium Term Ethereum Technical Analysis! What Awaits Its Investors?

When examining the medium-term technical chart of Ethereum, strong buying pressure is observed, pushing the price up from the $2139 support to the $2350 region. However, for the price to sustain its upward movement, it needs to surpass the $2407 resistance.

Can Bitcoin Fall To $35,000 Levels? Current BTC Analysis

When examining Bitcoin's 5-day technical chart, the analysis from January 18 is ongoing, indicating a continued downward movement from the $48,189 level. Bitcoin needs to close 5-day candles above the $44,200 resistance to gain momentum for an upward trend. 
Jocelyn Blake
Jocelyn Blakehttps://en.coinotag.com/
Jocelyn Blake is a 29-year-old writer with a particular interest in NFTs (Non-Fungible Tokens). With a love for exploring the latest trends in the cryptocurrency space, Jocelyn provides valuable insights on the world of NFTs.
spot_imgspot_imgspot_imgspot_img

Bitcoin Approaches Its Next Halving: Can This Time Be Different?

As Bitcoin nears another halving, the crypto community watches closely, anticipating its potential impact on the market amidst evolving circumstances.

Bitcoin Funding Rate Dips Negative Amid $251M ETF Inflows: A Bearish Signal or Market Resilience?

This article delves into the recent negative turn in Bitcoin's funding rate against a backdrop of significant ETF inflows, exploring whether this signals a bearish trend or underscores the cryptocurrency's resilience.

Massive XRP Transfer Raises Concerns: XRP May Experience Selling Pressure!

The substantial transfers of XRP have garnered attention; will the transfers to Bitso and Bitstamp create selling pressure on XRP?