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Deaton and Former SEC Lawyer Clash Over Ripple XRP Sales

Legal experts are engaging in a heated debate regarding Ripple's XRP sales, which the United States SEC charged Ripple and two of its execs with selling unregistered securities in the form of XRP in December 2020. Pro-XRP lawyer John Deaton engaged former SEC attorney Marc Fagel in a debate over the charges filed by the securities regulator, and Fagel noted that the SEC has a better summary judgment argument than Ripple. However, Deaton has a problem with the way the SEC laid out its argument, which is capable of implicating secondary market transactions. Deaton asserts that the SEC's argument is far-fetched, traveling through space and time into the future and capturing all possible future sales, and they cannot categorically state that the law backs the SEC's argument in the Ripple or protects investors. The development comes days after Australian-based lawyer Bill Morgan urged XRP holders to engage Fagel politely.

(By LELE JIMA)

XRP XRP $0.51
-2.34%
Ripple XRP SEC
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