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Highlights
- John Deaton questions SEC’s weak argument in XRP joint motion filing.
- Marc Fagel casts doubt on legal strength behind SEC and Ripple motion.
- Bill Morgan believes Judge Torres likely to approve the joint motion in the XRP Lawsuit.
A legal discussion is heating up online over the latest move in the XRP Lawsuit. Marc Fagel, a former SEC regional director, raised serious doubts about the SEC’s reasoning in a recent court filing.
Deaton Criticizes SEC’s ‘Weak’ Legal Argument in XRP Lawsuit
Crypto lawyer John E. Deaton believes that the agency’s explanation may not be legally strong enough. He said that pointing to the election and a shift in focus away from crypto doesn’t seem like a valid legal justification.
In response, Deaton commented that while he and Fagel sometimes disagree, he respects Fagel’s experience. The famous crypto lawyer invited him to discuss the matter further on his show, joking that it could be a good way to spend a Saturday morning. Fagel replied that he’s unsure how his views would be received by the audience, and that he had no firm prediction on the outcome due to the novelty of the motion.
The conversation centers on a recent joint request filed by the SEC and Ripple. They’re asking Judge Analisa Torres for what’s called an “indicative ruling.” This legal move signals they may want to reopen the case or seek a different judgment path. Deaton believes the brief filed to support the request is the weakest so far in the case.
Legal Experts Argument Raises Doubts Over New Motion
The crypto lawyer said it lacks the detail expected in motions that require proof of “exceptional circumstances.” That legal standard is needed to justify a judge revisiting a previously decided case. Deaton noted that both parties appear confident that the judge won’t reject the motion outright. Still, he questioned whether the judge would be satisfied with such a thin explanation.
Deaton plans to break down the details of this latest filing regarding the XRP lawsuit on a June 14 livestream. He hinted that the brief failed to address the full legal weight of what’s being asked.
Fagel’s comments indicates that not everyone is convinced the SEC has made its case. The interaction between Deaton and Fagel offers a rare glimpse into the legal minds regarding the complexities of the case. Both seem to agree on one thing: this motion is unusual, and its outcome is uncertain.
Meanwhile, another lawyer Bill Morgan believes Judge Torres will approve the motion, highlighting the importance of the joint motion in the XRP lawsuit.
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