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XRP Lawyer: Binance May Get A US DOJ Sealed Indictment

John Deaton, who represents the thousands of XRP token holders said that the US DOJ may come after crypto exchange Binance
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XRP Lawyer: Binance May Get A US DOJ Sealed Indictment

Attorney John Deaton, who represents the thousands of XRP token holders in the U.S. Securities and Exchange Commission (SEC) lawsuit, predicted that some legal action may be coming in the way of Binance. He said there have been too many unusual things in recent times that he will not be surprised if the crypto exchange gets a sealed indictment from the United States Department of Justice (DOJ).

Also Read: Why Solana (SOL) Price May Not Fall Despite FTX Court Order?

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From Killing Crypto To Crushing It

Speaking during a Twitter space on Wednesday, Deaton said there is a momentum shift in the way regulators and lawmakers are looking at when dealing with the crypto industry. He said the crypto market participants need to prepare for a longer fight.

“Unfortunately I think we have to be prepared for a longer fight. We are witnessing them going from “We are going to kill crypto to no, well we can’t so we are going to crush it so that the traditional players can come in and swoop it up.”

Earlier, CoinGape reported Deaton’s comments that crypto as a policy issue should be fought in Courts until 2025, after which there could be political consensus on the issue in the United States.

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Need A Sense Of Urgency

Attorney Jeremy Hogan, who also took part in the Space, recalled that the US SEC had even mentioned in a filing about not appealing the XRP Summary Judgment. The SEC said it is not appealing whether XRP is in and of itself a security so that is off the table, he added.

Attorney Hogan said the ideas, people and resources are fleeing the United States in search of finding a place where they could develop the great ideas at least legally. Hence, he called for having a sense of urgency in terms of taking action to stop the trend.

Also Read: EU Parliament Approves DAC8 Crypto Tax Rule; Here’s What It Means

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Anvesh Reddy

Anvesh reports major crypto updates around U.S. regulation and market moving trends. Published over 1400 articles so far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at anvesh@coingape.com or x.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/

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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.
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