United

Chair

Gary

<div class="intro-text"> 
 Pro-XRP lawyer John Deaton has<a style="color: #0000ff;" href="https://twitter.com/JohnEDeaton1/status/1752421492057387078?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1752421492057387078%7Ctwgr%5Ec0b4b7fce1bd22a720ee11e30a5f7eee69fcfc8f%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.cryptopolitan.com%2Fjohn-deaton-slams-sec-over-debt-box-case%2F"> criticized the United States Securities and Exchange Commission</a> (SEC) for <a style="color: #0000ff;" href="https://storage.courtlistener.com/recap/gov.uscourts.utd.141167/gov.uscourts.utd.141167.259.0.pdf">withdrawing its high-profile case against crypto project DEBT Box</a>.&nbsp; 
</div> 
Deaton, aligning with other XRP enthusiasts in the crypto community, has condemned SEC Chair Gary Gensler’s leadership and handling of the recent DEBT Box lawsuit. He pointed to a consistent pattern of controversial legal strategies employed by the SEC, citing instances such as the <a style="color: #0000ff;" href="https://defi-planet.com/2023/08/grayscale-scores-major-victory-over-sec-as-court-rules-in-favour-of-gbtcs-path-to-becoming-a-public-bitcoin-etf/">Grayscale Bitcoin ETF rejection</a> and <a style="color: #0000ff;" href="https://defi-planet.com/2023/04/ripple-vs-sec-attorney-questions-us-secs-classification-of-xrp-as-a-security/">the XRP lawsuit.</a> 
<blockquote class="twitter-tweet"> 
 <a href="https://twitter.com/GaryGensler?ref_src=twsrc%5Etfw">@GaryGensler</a> this disgrace falls under your leadership, or the lack thereof. First, your lawyers were described by a federal judge as hypocrites lacking faithful allegiance to the law in the <a href="https://twitter.com/Ripple?ref_src=twsrc%5Etfw">@Ripple</a> case. Later, an Appellate Court ruled your denial of a spot <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> ETF was… <a href="https://t.co/PExezQwmXE">https://t.co/PExezQwmXE</a> 
 — John E Deaton (@JohnEDeaton1) <a href="https://twitter.com/JohnEDeaton1/status/1752421492057387078?ref_src=twsrc%5Etfw">January 30, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
The attorney noted that a US federal judge dubbed the federal agency hypocritical and lacking faithful allegiance to US law on Ripple’s case. Deaton emphasized that despite these previous “humiliating” legal experiences, the SEC lawyers continued disregarding the truth and justice on matters related to their connection with the cryptocurrency industry.&nbsp; 
Deaton’s remarks were prompted by <a style="color: #0000ff;" href="https://twitter.com/EleanorTerrett">a post on X by Fox Business journalist Eleanor Terett,</a> who criticized the securities regulator for trying to avoid accountability for misleading the Court in its pursuit of a restraining order and asset freeze against DEBT Box. 
<blockquote class="twitter-tweet"> 
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;">NEW: The <a href="https://twitter.com/SECGov?ref_src=twsrc%5Etfw">@SECGov</a> has just filed a brief in the <a href="https://twitter.com/DebtBox?ref_src=twsrc%5Etfw">@DebtBox</a> case saying that it intends to dismiss the lawsuit against the company. 
 The SEC is choosing dismissal rather than face possible sanctions from the judge for misleading the court in order to secure a restraining order and… <a href="https://t.co/ByxkG6prV4">pic.twitter.com/ByxkG6prV4</a> 
 — Eleanor Terrett (@EleanorTerrett) <a href="https://twitter.com/EleanorTerrett/status/1752410781398790396?ref_src=twsrc%5Etfw">January 30, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
In August of the previous year, a US District Court <a href="https://www.sec.gov/news/press-release/2023-146">granted the SEC permission to temporarily freeze DEBT Box’s assets and impose a restraining order</a> over allegations that it operated a fraudulent scheme. However, after presenting evidence, the Court found the SEC’s claims false and misleading. In November, Judge Robert Shelby instructed SEC lawyers to provide explanations for the sanctions they requested earlier. 
On Tuesday, January 24, 2024, the securities regulator<a style="color: #0000ff;" href="https://storage.courtlistener.com/recap/gov.uscourts.utd.141167/gov.uscourts.utd.141167.259.0.pdf"> filed a brief</a> acknowledging that its attorneys should have been more transparent with the Court. The agency admitted that sanctions weren’t appropriate in handling the DEBT Box case and asserted its commitment to addressing identified issues with the Court that may warrant further consideration. 
This development follows <a style="color: #0000ff;" href="https://storage.courtlistener.com/recap/gov.uscourts.utd.141167/gov.uscourts.utd.141167.218.0.pdf">DEBT Box’s request that the Court sanction the SEC for its misleading accusations and order the regulator to drop the case entirely</a>. The crypto firm cited personal and financial damages resulting from the previous restraining order the Court granted against it.&nbsp;&nbsp; 
&nbsp; 
If you want to read more news articles like this, visit <a style="color: #0000ff;" href="https://defi-planet.com/">DeFi Planet</a> and follow us on <a style="color: #0000ff;" href="https://twitter.com/PlanetDefi">Twitter</a>, <a style="color: #0000ff;" href="https://www.linkedin.com/company/defi-planet/">LinkedIn</a>, <a style="color: #0000ff;" href="https://www.facebook.com/DeFi-Planet-129907662611402">Facebook</a>, <a style="color: #0000ff;" href="https://www.instagram.com/defi.planet/">Instagram</a>, and <a href="https://coinmarketcap.com/community/profile/DeFiPlanet/">CoinMarketCap Community</a>. 
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.” 
The post <a href="https://defi-planet.com/2024/01/pro-xrp-lawyer-john-deaton-criticizes-the-us-sec-over-debt-box-case-withdrawal/">Pro XRP Lawyer John Deaton Criticizes the US SEC over DEBT Box Case Withdrawal</a> appeared first on <a href="https://defi-planet.com">DeFi Planet</a>.

Pro XRP Lawyer John Deaton Criticizes the US SEC over DEBT Box Case Withdrawal

DeFi Planet

Other articles published on Jan 31, 2024

Bittensor Price Prediction as AI Cryptos Blast Off – Next Big Thing?

The New Crypto Frontier: NuggetRush, MANTA, and Internet Computer Leading the Charge in the Lates...

Top 5 Tokens Poised to Exceed Solana’s Market Cap in 2024

Spot Bitcoin ETF: A Game Changer in Cryptocurrency Investment

6 Best Altcoins to Invest in Right Now January 31 – Neo, Polygon, Chainlink

Ripple to unlock 1 billion XRP amid imminent February sell-off

Join our free newsletter for daily crypto updates!