• Wed. Nov 29th, 2023

Attorney John Deaton Warns SEC may Target other Cryptocurrencies after Ripple

Hassan Mehmood

ByHassan Mehmood

Nov 17, 2021

It has been some time now that a decision around the XRP lawsuit was announced by the courts. This lawsuit against Ripple by the Securities and Exchange Commission has taken its toll on the crypto market but especially on XRP. The lawsuit is over the pending status, and the processing is extremely slow; it almost seems that the case is being stretched over where it could be analyzed and announced a verdict for in two or three consecutive sittings. Attorney John Dayton warns everyone about the intention of the Securities and Exchange Commission regarding this lawsuit against Ripple.

He says that what SEC has in mind would affect every other cryptocurrency out there and not just Ripple. A recent move has been made into this case, and that is why it is hitting all the major news avenues. Attorney John Deaton is the founder and host of CryptoLaw, which is an XRP advocacy movement in the works to raise voice in favor of cryptocurrencies and the principle of decentralization for which these stand.

XRP Lawsuit

He is extremely speculative of what the Securities and Exchange Commission wants to achieve with this lawsuit against Ripple. He believes that the Securities and Exchange Commission might be on a personal vendetta against Ripple, and if the Commission manages to win this case, then it would be indeed a very tiring day not only for Ripple but cryptocurrencies in general. John says that anyone who simply hates the company Ripple or the cryptocurrency XRP should still pray that SEC fails in what it is doing because if SEC becomes successful, then it is simply going to affect everybody.

The main point which John wants to highlight is that the Securities and Exchange Commission is definitely a body that is in power, and for the sake of removing its trail of negligence and misconduct of the past, it could frame any cryptocurrency that it wishes the way it is doing with Ripple right now. The Securities and Exchange Commission is only waging war against XRP right now, but who knows which cryptocurrencies the Commission can manage to bring to court under the same cloak of a lawsuit as with XRP.

Hassan Mehmood

Hassan Mehmood

Hassan Mehmood, a valued writer at Big Trends Signals, uses his profound online trading expertise to produce in-depth guides and unbiased reviews, enabling traders to navigate digital marketplaces efficiently.

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