2024

April

Pro-crypto lawyer John Deaton&nbsp;will file an amicus brief&nbsp;in support of&nbsp;Coinbase’s&nbsp;motion for an interlocutory appeal. 
According to Fox News reporter Eleanor Terrett, Deaton will file an amicus brief today, April 26. 
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In the review, Deaton highlights the urgent need for legal clarity regarding digital assets, highlighting the U.S.&nbsp;SEC’s&nbsp;inconsistent approach to regulation and&nbsp;its detrimental impact&nbsp;on industry participants. 
As evidence, the lawyer cites court cases such as <a href="https://crypto.news/tag/Ripple/" target="_blank" rel="">Ripple</a>, <a href="https://crypto.news/tag/LBRY/" target="_blank" rel="">LBRY</a>, and <a href="https://crypto.news/tag/Telegram/" target="_blank" rel="">Telegram</a>, as well as previous <a href="https://crypto.news/tag/sec/" target="_blank" rel="">SEC</a> statements on cryptocurrency and letters from various regulators and legislators expressing concerns about the&nbsp;regulator’s&nbsp;actions, Terrett noted. 
Deaton criticized the&nbsp;SEC’s&nbsp;lack of consistency, including its changing stance on whether crypto tokens are themselves securities. 
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 “Bitcoin is certainly distinguishable from other cryptocurrencies&nbsp;but&nbsp;claiming&nbsp;it’s&nbsp;not a security unlike other tokens because it&nbsp;doesn’t&nbsp;have an ecosystem, is just plain dumb.” <cite>John Deaton, pro-crypto lawyer and Massachusetts Senate candidate</cite>
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Deaton has been involved in cryptocurrency-related lawsuits, including filing a 2021 petition challenging the&nbsp;SEC’s&nbsp;lawsuit against Ripple,&nbsp;a security.&nbsp;Deaton <a href="https://crypto.news/elizabeth-warren-crypto-john-deaton-senate/" target="_blank" rel="">announced</a> his candidacy for the U.S. Senate earlier this year and <a href="https://crypto.news/lawyer-john-deaton-knocks-sec-after-coinbase-rejection/" target="_blank" rel="">criticized</a> SEC Chairman Gary&nbsp;Gensler’s&nbsp;handling of the crypto industry. 
Coinbase <a href="https://crypto.news/coinbase-seeks-appeal-sec-case-crypto-classification/" rel="">filed</a> an appeal in two courts in April to challenge part of its ongoing litigation&nbsp;with the <a href="https://crypto.news/tag/sec/" target="_blank" rel="">SEC</a>. The company asked a higher court to consider whether a digital asset transaction that does not impose any obligations to the original issuer of the asset should be considered an investment contract, which would be regulated by the SEC. 
 You might also like: <a href="https://crypto.news/attorney-explains-why-ripple-might-opt-for-settlement-with-sec/" rel=""> Attorney explains why Ripple might opt for settlement with SEC </a>

Pro-crypto lawyer to support Coinbase’s appeal against SEC

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