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Attorney John Deaton, the founder of CryptoLaw, emphasized the weight of the impending decision from Judge Analisa Torres in the ongoing Securities and Exchange Commission (SEC) vs. Ripple lawsuit on Twitter. John E Deaton shared the effect of Judge Torres’ decision in a Twitter thread:<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/7f8a9d84c73d44f1ae770af1ef2f1c41.png" />Deaton was responding to a tweet by a prominent cryptocurrency YouTuber Scott Melker, also known as the &#39;Wolf of All Streets.&#39; Melker <a href="https://www.sec.gov/news/press-release/2022-112" rel="noopener noreferrer nofollow">warned</a> that if Americans fail to resist the SEC&#39;s aggressive regulatory reach, they might be left with only four cryptocurrencies to trade: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH) on exchanges operated by Wall Street.Melker singled out these four digital currencies because they have been previously <a href="https://www.cnbc.com/2023/06/06/sec-chair-gensler-doubts-the-need-for-more-digital-currency.html" rel="noopener noreferrer nofollow">classified</a> as commodities by SEC Chair Gary Gensler, while he labeled other tokens as securities. The YouTuber further stated that these are the only cryptocurrencies currently traded on the EDX exchange, a newly established crypto trading platform backed by Wall Street giants like Fidelity Digital Investments, Charles Schwab, and Citadel Securities.Responding to this, Deaton highlighted the importance of Judge Torres&#39; decision in the Ripple lawsuit. He noted that each passing day heightens the potential significance of the ruling. An adverse ruling against Ripple’s XRP could embolden critics of cryptocurrencies, including Gensler, billionaire investor Warren Buffett, and Representative Brad Sherman.Read full article at <a href="https://cryptotale.org/ripple-lawsuit-outcome-shapes-future-of-crypto-market-says-deaton/" rel="noopener noreferrer nofollow">CryptoTale.</a>

Ripple Lawsuit Outcome Shapes Future of Crypto Market, Says Deaton

CryptoTale

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