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XRP Lawyer Explains SEC’s Flaw Over Ripple Payments

Attorney John Deaton, who represents the XRP holders, reiterated that the SEC’s argument on XRP’s credentials in the On Demand Liquidity service is flawed. Responding to this mention in the SEC’s Daubert motion, Deaton found fault with calling XRP holders as ‘underwriters’. The SEC’s motion said the users of XRP on demand liquidity service were acting as underwriters as they immediately resold XRP into public markets. The Attorney reacted saying,

“This underwriter issue is what many fail to recognize and why I sued SEC.”

XRP XRP $0.82
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