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XRP, ADA, and ALGO Investors May Join Coinbase's Defense in SEC Lawsuit, Says XRP-Friendly Lawyer

June 29 (Cointime) - XRP, ADA, and ALGO investors may come to the defense of Coinbase, as suggested by XRP-friendly lawyer John E. Deaton. Coinbase has filed a motion to dismiss the SEC lawsuit against it, using the Major Questions Doctrine, which Deaton believes is a strong legal argument.

The SEC's case against Coinbase revolves around its failure to register as a securities exchange, broker, and clearing agency under federal securities laws, a position that Coinbase is strongly contesting.

Deaton anticipates that numerous amici will request permission to file an amicus brief in the case, particularly those who dispute the SEC's classification of XRP, ADA, ALGO, and 64 other digital assets as securities.

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