In a series of tweets, XRP lawyer John Deaton replied forcefully to detractors of Choose Torres’ most recent decision on the Securities and Trade Fee’s (SEC) lawsuit against Ripple.
Deaton used the opportunity to condemn individuals criticizing Torres for her decision and has long questioned the SEC’s activities towards cryptocurrencies, particularly XRP.
The lawyer explained his position by saying that if he had held Bitcoin (BTC) in 2013 when SEC officials were certifying it to be safe, he would have taken legal action against the SEC, just as he did in the current situation with Ripple’s XRP. Additionally, he would have behaved similarly if the SEC had brought similar charges against Ethereum (ETH).
He emphasized that his stakes in BTC and ETH were far larger than his holding in XRP, underscoring that his legal activities are guided by principle rather than personal gain.
The lawyer also discussed his dispute with Ethereum co-founder Vitalik Buterin over the SEC’s disparate treatment of XRP and Ethereum. He continued by arguing that rather than using conspiracy theories, he provided a timeline of information in his critique of the SEC’s approach to XRP and how it favored ETH.
Deaton said that in addition to being an XRP investor, he also opposed the SEC’s overreach as a legal supporter of fair and transparent regulations for the cryptocurrency market.
Deaton backed Choose Torres’ decision in his final tweets, asserting that it was a solid decision based on a strict application of the Howey factors.
He made it known that the SEC had been unable to determine a typical business issue for XRP. Additionally, he emphasized Torres’ persuasive report on attraction and suggested that the SEC would need more than luck to overturn her decision. Deaton’s vociferous defense of Choose Torres’ decision and condemnation of the SEC sends a clear message to those who are criticizing the choice: equality and morality should triumph in this world of Bitcoin governance.
