NewsletterJust-In: XRP Lawyer Looks To Build Union Against US SEC Enforcement
XRP News: U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler has launched multiple enforcement actions over digital asset related firms over the past few months. In his latest comments, Gensler suggested that Proof-of-stake (PoS) tokens need to be regulated as securities. However, John Deaton, Amicus Curiae in the XRP lawsuit aimed to build a union against the US SEC’s enforcement.
XRP lawyer’s Team To Go After US SEC?
Attorney John Deaton, XRP holders’ lawyer taking the initiative mentioned that anyone from the crypto industry who is involved in active litigation with US SEC or being asked to settle prior to an enforcement action can join him.
He highlighted that this is an attempt to assemble a group of individuals or companies who the commission alleges violated section 5 of the Securities Act. This involves the allegations of issuing, offering, or selling a token that the US SEC claims to Satisfy the Howey test.
Also Read: SEC vs CFTC: Gary Gensler Wants to Treat All PoS Crypto As Securities
Deaton mentioned that it is the software code which is the US SEC is claiming to be an investment contract regardless of the seller or the circumstances encircling the sale. He added that it would have been proved helpful if the defense teams in the Ripple and LBRY lawsuits would have communicated with each other and worked against the commission. Read More XRP News Here…
This development comes in while reports surface claiming that Gensler is aiming to speed up its staff for crypto enforcement actions. However, the US SEC chair has already doubled up its staff designated for crypto.
XRP Lawyer Backs Ethereum Over Security Claims| Read Here
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal 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.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- S&P Welcomes WhiteBIT’s Native Coin Across Five Key Crypto Indices
- Hyperliquid Rival Aster DEX Targets Early 2026 For Layer 1 Launch
- CZ vs. Peter Schiff: Binance Founder Argues Bitcoin Beats Gold on Verifiability, Utility and Scarcity
- Solana Mobile Set to Launch SKR Token in January 2026
- Tom Lee’s BitMine Keeps Buying ETH, Adds $150M Despite DAT Purchases Crashing 81%
- XRP Price Prediction as ETF Buyers Add $50.27M to Holdings
- Ethereum Price Reclaims $3,200 as Shark Wallets Accelerate Accumulation
- Dogecoin Price Holds $0.15: Bullish Reversal or Just a Temporary Bounce?
- Sui Price Surges 10% As Vanguard Group Adds SUI to Bitwise 10 Crypto Index
- Bitcoin Price Prediction: Will Next Bull Run Push BTC to $100,000?
- Pepe Coin Price Risks 80% Crash as Alarming Pattern Forms and 6.5T Inflows
