Ripple vs. SEC; Pro-XRP attorney John Deaton demands dismissal

John Deaton, a pro-XRP lawyer, urged an end to the long battle involving the US Securities and Exchange Commission and cryptocurrency companies like Ripple. Deaton noted that these cases had a significant impact on innovation, entrepreneurs and investors. His comments come just a day before changes in SEC leadership take effect, with favorable regulations just around the corner.

Deaton is pushing for the SEC’s cases against cryptocurrency companies to be dismissed

The next US government is set to change cryptocurrency policies for the better. Because of this, Deaton subscriber It is time to dismiss all non-fraud SEC cases.

Reject encryption cases

the next day @RealDonaldTrump Launches a Presidential Meme Coin, and after attending the inaugural Crypto Gala, where the newly appointed US Crypto Czar, @David SacksHe declared the end of the war on cryptocurrencies, promising that America would enter a golden age of…

– John E. Deaton (@JohnEDeaton1) January 19, 2025

He mentioned:…With the next President of the United States using technology in a way that some might argue pushes the legal boundaries more aggressively than any of the companies mentioned above, all non-fraudulent issues including Ripple, coinbase, krakenfx, dragonchain, etc. will have to be resolved. It was rejected.”

For Ripple and others, dismissing these cases would be a big step toward rebuilding trust and allowing companies to focus on corporate development. With the continued global growth of ripple With its recent legal victories in court, this case has become a symbol of the struggle against unfavorable regulations. Deaton believes that stopping the crypto wars would help the cryptocurrency community leave these issues behind and move on to building new opportunities.

The Ripple and SEC cases cost more than $150 million in legal fees

Ripple faced one of the most famous cases against the US Securities and Exchange Commission. However, the SEC never alleged fraud, but rather filed a lawsuit against Ripple for selling XRP as an unregistered security. The company spent more than $150 million in attorneys’ fees to defend itself.

As Deaton explained, the case was an act of intimidation against Ripple executives, including Brad Garlinghouse and… Chris Larsen. While both executives were initially able to have their cases dismissed due to lack of merit, the damage to Ripple and its community was significant.

Ripple even faced delisting from most major exchanges in the US, freezing its retirement investment holding XRP and losing its foreign partnerships. These actions contributed to losses of more than $15 billion for XRP holders. Additionally, some companies have withdrawn from their partnership with Ripple for fear of SEC action. However, Ripple has remained strong and has over 75,000 XRP holders.

Rejecting crypto issues will favor XRP

Regulation in the cryptocurrency space over the past few months has been volatile due to strict enforcement by the new SEC Chairman, Gensler. The measures put in place by Gensler were strict and represented the SEC’s hostile policies on digital assets such as Ripple (XRP).

But with Donald Trump’s inauguration soon, the crypto world sees a backdrop of more favorable regulation for cryptocurrencies. Trump’s nomination of Paul Atkins to head the SEC is a positive approach toward putting to rest the weak regulations of the past. Atkins will establish clearer rules and regulations that will support innovation, opening the door to Ripple’s XRP.