XRP Lawsuit: Pro-Ripple Lawyer gets permission to question Individual Movants

Published by
XRP Lawsuit: Pro-Ripple Lawyer gets permission to question Individual Movants

The latest update in the XRP lawsuit saw the court grant amici curiae status to Attorney John E Deaton who has been vocal about his support for the defendants in the lawsuit. Along with the six Movants who filed Motion to Intervene as defendants in this action pursuant to Federal Rule of Civil Procedure 24. The six Movants are, Jordan Deaton, James Lamonte, Tyler Lamonte, Mya Lamonte, Mitchell Mckenna, and Kristiana Warner.

With the help of the Amici curiae status, Attorney John E Deaton will be permitted to put forward brief legal questions and concerns on behalf of Individual Movants. Furthermore, the court denied Movants’ Motion to Intervene, however, it reinstates that the exclusive amici curiae status will prove beneficial to the court during the briefing on dispositive motions.

“Movants, in their individual capacities, shall be permitted to act as amici curiae in this action.  As such, Movants shall be allowed to assist the Court by briefing legal issues relevant to the case as approved in advance by the Court. The Court contemplates that such assistance will be most beneficial during the briefing on dispositive motions but may exercise its discretion to request or deny further applications as appropriate.”, stated the court.

Advertisement

Movants make compelling arguments

The court’s recent order has raised speculations of the final verdict gravitating towards the defendant’s favor as the interests of the Individual Movants and the XRP Community are aligned. The SEC claims securities status for XRP and alleges the violation of the Securities Act by the defendants in lieu of selling these digital assets. The Movants argue otherwise, contending the plaintiff’s complaint, asserting that if XRP sales are marked as illegal, then the list of culprits extends far beyond the defendants.

Individual Movants assert that the SEC complaint “directly attack[s] XRP Holders” through mischaracterizations of XRP Holders’ use of XRP and XRP’s connection to Defendants. Movants argue that the SEC’s claim that “the very ‘nature of XRP itself’ makes it a security,” leads to the conclusion that “‘every individual in the world who is selling XRP would be committing a Section 5 violation,’” and so the XRP Holders’ XRP will be affected by the outcome of this litigation.

Advertisement

Share
Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Bitcoin News

U.S. Treasury To Ease Tax Rule on Unrealized Bitcoin Gains, Aiding Saylor’s Strategy

The U.S. Treasury and IRS have released an interim guidance, which highlights plans to ease…

October 1, 2025
  • 24/7 Cryptocurrency News

Trump-Backed World Liberty (WLFI) Plans RWA Tokenization Paired with USD1 Stablecoin

Trump Family's World Liberty Financial has unveiled big real-world asset (RWA) tokenization plans on Wednesday,…

October 1, 2025
  • 24/7 Cryptocurrency News

Stripe Eyes U.S. Banking Charter, Pioneers One-Click Stablecoin Issuance for Firms

Fintech giant Stripe has unveiled a suite of tools to enable businesses to tap into…

October 1, 2025
  • 24/7 Cryptocurrency News

Breaking: Metaplanet Expands Treasury With 5,268 BTC Purchase, Climbs to 4th Largest Holder

Metaplanet has expanded its Bitcoin portfolio with another purchase. The Tokyo-listed firm is now the…

October 1, 2025
  • Bitcoin News

BREAKING: Nasdaq Files with US SEC to List BlackRock Bitcoin Premium Income ETF

Nasdaq has officially filed to list and trade BlackRock iShares Bitcoin Premium Income ETF with…

October 1, 2025
  • 24/7 Cryptocurrency News

Mr Beast, Whales Buy ASTER Token Amid 20% Crash, What’s Next?

While the ASTER token has crashed 20% in the last 24 hours, to test the…

October 1, 2025