Attorney John E. Deaton, a staunch advocate for XRP, recently addressed criticisms directed at Judge Analisa Torres for her decision in the ongoing case between Ripple Labs and the Securities and Exchange Commission (SEC).
John Deaton Makes New Twitter Revelation
Taking to Twitter, Deaton passionately defended Judge Torres against her critics and delivered a pointed message stating that the SEC’s failure to establish the “common enterprise” factor was even more glaring than their inability to satisfy the third Howey factor.
In his statement, Deaton boldly declared, “I have news for the Torres haters: the SEC failed to establish the common enterprise factor even less than they established the 3rd Howey factor – NOT EVEN CLOSE!”
This statement expresses Deaton’s extreme dissatisfaction with the SEC’s handling of the matter and its ramifications for the crypto sector as a whole. The SEC’s case against Ripple loses substantial ground by failing to identify a common entity between Ripple Labs and XRP investors, raising issues about the legitimacy of the claims.
Deaton’s Legal Actions
In the face of regulatory ambiguity and potential threats to the crypto industry, Attorney Deaton has emerged as a vocal advocate for investor rights and regulatory clarity. His legal actions against the SEC involving Ripple’s XRP have gotten a lot of attention, but he underlined that his motivation goes beyond personal benefit.
Deaton revealed that if he had owned Bitcoin in 2013 when the SEC declared it a “security”, he would have taken legal action against the regulator. Likewise, if the SEC had made similar allegations against Ethereum, he would have pursued a similar course of action.
This assertion highlights Deaton’s unwavering commitment to advocating for fairness and regulatory transparency in the crypto space. Meanwhile, Deaton’s comments come only a few days after his official Twitter account was exploited by hackers.
Promoting a Balanced Perspective
Deaton’s vocal defense of Torres is not merely an attempt to deflect criticism but rather an appeal for a more balanced and fact-based approach to the XRP case. As an attorney with a vested interest in ensuring fair treatment for XRP investors and stakeholders, Deaton remains steadfast in his belief that the SEC must be held accountable for its actions.