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 <h2 id="strong-xrp-lawsuit-john-deaton-demystifies-key-facts-strong"><strong>XRP Lawsuit: John Deaton Demystifies Key Facts</strong></h2> 
 <p><span style="font-weight: 400">On Wednesday, the SEC decided to </span><span style="font-weight: 400">appeal</span><span style="font-weight: 400"> the ruling in the case, adding a new layer of complexity to the saga. However, John E. Deaton, renowned <a rel="noopener noreferrer nofollow" title="XRP" href="https://thebittimes.com/tag/xrp.html">XRP</a> holder’s lawyer has stated that this move could potentially backfire and have unintended consequences for the SEC’s regulatory efforts.</span></p>  
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 <p><span style="font-weight: 400">Deaton highlighted in a recent </span><span style="font-weight: 400">tweet</span><span style="font-weight: 400"> that the SEC’s recent motion is only a pre-motion letter submitted to Judge Analisa Torres, seeking permission to file a more detailed motion on the Court’s ruling. The objective of this process seems to be requesting permission to make an early appeal to the higher court (2nd Circuit Court of Appeals) before the underlying case is fully resolved.&nbsp;</span></p> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
  <p lang="en" dir="ltr">Everyone needs to understand what this is and isn’t! This is ONLY A PRE-MOTION LETTER. It’s asking the judge permission to file a formal motion asking for her to allow the SEC to then ask the 2nd Circuit Court of Appeals to accept an early appeal. It’s just like when I filed a… https://t.co/ujbpio8pUx</p> 
  <p>— John E Deaton (@JohnEDeaton1) August 10, 2023</p>  
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 </blockquote> 
 <p></p> 
 <p><span style="font-weight: 400">This approach allows the SEC to potentially challenge aspects of the ruling that it disagrees with, even before the case is concluded at the lower court.&nbsp;</span></p> 
 <p><span style="font-weight: 400">Deaton went on to explain that even if the Judge grant the SEC’s pre-motion letter doesn’t mean the underlying motion would be granted as well, implying that the judge may allow further debate on the matter.</span></p>  
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 <p><span style="font-weight: 400">Furthermore, Deaton expresses a belief that Judge Torres is likely to grant the pre-motion letter, which would allow her to provide more detailed reasoning for her decision and potentially make it less susceptible to any further appeals.</span></p> 
 <p><span style="font-weight: 400">The tweet also mentioned that this process could provide an opportunity for the judge to address any points raised by U.S. District Judge Jed Rakoff.</span></p> 
 <h2 id="strong-deaton-s-involvement-in-pending-sec-appeal-strong"><strong>Deaton’s Involvement in Pending SEC Appeal</strong></h2> 
 <p><span style="font-weight: 400">John Deaton </span><span style="font-weight: 400">mentions</span><span style="font-weight: 400"> that he will wait to read Ripple’s response before making a final decision when asked if he will take part in the appeal. He added that the judge likely doesn’t want redundant arguments or points repeated by multiple parties.&nbsp;</span></p> 
 <p><span style="font-weight: 400">This suggests that he is closely monitoring the developments in the case and is interested in understanding Ripple’s perspective and arguments in response to the SEC’s request.</span></p> 
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XRP Lawsuit: US SEC Appeal Against XRP Ruling May Backfire

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