Crypto lawyer John Deaton recently responded to the crypto community’s concerns surrounding the lawsuit filed by the U.S. Securities and Exchange Commission against enterprise blockchain solution firm Ripple. The case was <a href="https://www.sec.gov/news/press-release/2020-338" rel="noopener noreferrer nofollow">filed</a> back in December 2020 and alleged the sale of unregistered securities in the form of <a href="https://coinmarketcap.com/currencies/xrp/" rel="noopener noreferrer nofollow">XRP</a>by Ripple executives.Deaton took to Twitter earlier today to post a video that addressed the crypto community’s concerns:<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/9dd948264af44b328e8399cf03218fc4.png" />The crypto community on Twitter previously cited the SEC’s lawsuit against blockchain-based file sharing and payment network LBRY to argue that a verdict in the Ripple case was taking too long despite the similarity between both lawsuits. John Deaton responded by pointing out that LBRY had not contested every element of the Howey Test which was invoked by the SEC.Meanwhile, Ripple had contested all three elements of the Howey Test, which is used by regulators and courts to determine the security status of commodities and tokens. The crypto lawyer further pointed out that Ripple had already spent a whopping $200 million defending against the SEC’s allegations.Read full article at <a href="https://cryptotale.org/john-deaton-addresses-concerns-surrounding-sec-ripple-lawsuit/" rel="noopener noreferrer nofollow">CryptoTale.</a>

John Deaton Addresses Concerns Surrounding SEC Ripple Lawsuit

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