XRP Attorney: Crypto In U.S. Is More Of A Court Battle Until 2025
Attorney John Deaton, the lawyer representing XRP token holders in the U.S. Securities and Exchange Commission (SEC) lawsuit against Ripple, suggested that crypto as a policy issue should be fought in Courts until there is political consensus in the United States. The lawyer said the same in context of the Senate and House leaders introducing many important crypto bills.
Also Read: Telegram Unveils Crypto Wallet; TON Price Jumps; Here’s Why
Crypto Lawsuits To Rule The Roost?
In the context of the US approaching the election year, attorney Deaton said that fight in Courts is the best shot the crypto market participants can have a go at.
“We fight in Court and we vote for the return of American innovation, regardless of political party.”
In the last few months, the crypto market saw major developments in Courts, with some of them potentially having an ever lasting impact on the industry. Payments company Ripple snatched up a victory in the XRP Vs SEC lawsuit as the judge deemed retail sales of tokens as not securities. Also, Grayscale bagged a win in its SEC lawsuit as the Court granted the company’s motion to convert its Grayscale Bitcoin Trust into a spot Bitcoin ETF.
But on the flip side, Coinbase and Binance were charged with violation of securities laws by the US SEC in separate lawsuits which came simultaneously around the first week of June 2023. Coinbase was accused of engaging in an unregistered securities offering through its staking-as-a-service program.
Crypto Political Consensus In US
Amid a flurry of digital assets related bills being introduced in the US legislatures, Deaton explained that there was hardly any chance that the bills would be passed especially with the anti-crypto agenda dominating among the lawmakers. He said there was zero chance that the bills would be passed when the incumbent party’s biggest and most influential leaders are anti-crypto.
Also Read: Terra Luna Classic (LUNC) Community Approves Major Proposal
- ProShares Files for Index Crypto ETF Tracking Bitcoin, Ethereum, XRP, and Solana
- Trump Says Meeting with China May Not Happen, Bitcoin Drops
- The Great Rotation? Bitcoin Rises as Gold Sees Largest Daily Drop Since 2013
- Crypto Czar David Sacks to Meet Senate Republicans In Bid To Advance Market Structure Bill
- Waller Floats ‘Payment Account’ Framework to Provide Crypto Firms Access To Fed’s Payment Rails
- Chainlink Price Eyes $27 Rebound as Whales Accumulate 54M LINK
- Pi Network Price Wedge Signals a Rebound as Key Upgrades Raise Utility Hopes
- Solana Price Eyes $240 Recovery as Gemini Launches SOL-Reward Credit Card
- XRP Price Prediction Amid Evernorth’s $1B XRP Treasury Plan – Can XRP Hit $5?
- Ethereum Price Targets $8K Amid John Bollinger’s ‘W’ Bottom Signal and VanEck Staked ETF Filing
- Pi Coin Price Eyes 50% Upswing As AI-Powered App Studio Update Ignites Optimism
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.
