XRP lawyer John Deaton joins LBRY case as amicus curiae

Lawyer John Deaton, who represents galore XRP token holders successful the Ripple- Securities Exchange Commission (SEC) lawsuit, has formally submitted his announcement of quality arsenic an Amicus Curiae successful the LBRY lawsuit. 

According to a papers submitted connected Sept. 14, 2023, to the United States Court of Appeals for the First Circuit, Deaton has officially submitted his Notice of Appearance connected behalf of Amicus Curiae Naomi Brockwell.

Referring to his submission, Deaton said in a station connected X (formerly known arsenic Twitter),

Notably, Naomi Brockwell serves arsenic the laminitis of Crypto Law, a level dedicated to offering insights and updates connected ineligible and regulatory developments related to cryptocurrencies successful the United States, successful collaboration with Deaton.

The lawyer is known for his advocacy for the rights of cryptocurrency investors and his progressive engagements successful ineligible proceedings and discussions surrounding cryptocurrency regulations and ineligible actions.

In March 2021, the United States SEC initiated a ineligible enactment against LBRY, alleging that the institution unlawfully sold LBC tokens without registering with the agency, arsenic required by law.

On Sept. 7, LBRY filed a announcement of entreaty to the United States Court of Appeals for the First Circuit, seeking to situation the last judgment entered connected July 11 that ordered LBRY to wage a civilian punishment and barred it from participating successful unregistered offerings of crypto plus securities successful the future.

In July 2023, the United States District Court for the District of New Hampshire issued the last judgement successful the US SEC vs. LBRY lawsuit. The ruling said that LBRY was liable for violating Section 5 of the Securities Act of 1933.

Related: SEC’s Gary Gensler to clasp steadfast connected crypto enforcement successful Senate hearing

The result of the LBRY lawsuit was seen arsenic having imaginable implications for the XRP lawsuit. However, connected July 14, 2023, U.S. District Judge Analisa Torres issued a summary judgement successful Ripple's favor, determining that the merchantability of XRP tokens to retail buyers did not represent securities.

Collect this nonfiction arsenic an NFT to sphere this infinitesimal successful past and amusement your enactment for autarkic journalism successful the crypto space.

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