XRP Lawsuit: SEC Made One ‘Glaring’ Mistake In Recent Filing for Summary Judgment: Crypto Lawyer

XRP Lawsuit: SEC Made One ‘Glaring’ Mistake In Recent Filing for Summary Judgment: Crypto Lawyer


Prominent XRP-supporting lawyer John Deaton says that the U.S. Securities and Exchange Commission (SEC) made a major misstep in a recent filing for summary judgment in its lawsuit against Ripple Labs.

The SEC sued Ripple in December of 2020 under allegations that the payments firm issued XRP as an unregistered security, and now both parties have filed for summary judgment, which is a request to end a court case without a full trial.

Deaton, who represented over 70,000 XRP holders in the court case, tells his 214,000 Twitter followers that the SEC’s motion for summary judgment contains no references from any experts making the case that XRP behaves as a security by relying on the efforts of Ripple for its performance.

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