The U.S. Securities and Exchange Commission (sec) is on the radar of leaders in the digital asset sector about its so-called regulatory overrun. An Amicus Curiae in the XRP lawsuit has claimed that the SEC lawyers are threatening to bankrupt an American entrepreneur before filing a lawsuit against them.
XRP lawyer ready to testify
John Deaton, XRP holders’ lawyer in the Ripple lawsuit has made a big allegation against the commission. He stated that the SEC threatened and filed enforcement actions in opposition to crypto firms. However, there is no fraudulent or misrepresentation in these cases.
He added that these implementing measures were taken when the committee held a number of meetings with Bernie Madoff. The XRP lawyer called us and said he would like to testify about all the information he received on the subject.
Deaton said he is prepared to provide evidence on the modus operandi of how the SEC treats digital companies in the United States. Meanwhile, the XRP price currently stands at $0.40694, down by 3.69% in the last 24 hours, according to CoinGape price tracker
SEC Vs LBRY legal tussle
XRP lawyer brought up the LBRY vs SEC lawsuit and directed that the commission is bankrupting the crypto firms by this process. According to the demands, the blockchain company is almost dead now while the dry threatens them in private for three years.
However, jeremy kauffman, lbry's chief executive in the hearing raised a voice to provide clarity for their platform user. He was asking for details about secondary market transactions. The panel will hold a final hearing in this matter on January 30th.
The CEO of LBRY stated that he pleaded with the SEC and agreed to make any type of change. They proposed to make changes around ethereum and bitcoin that bears no designation of securities.
- ripple (XRP)
- Ripple vs SEC