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SEC vs.  Ripple – Expert claims data from Clayton and Hinman

SEC vs. Ripple – Expert claims data from Clayton and Hinman

Attorney John Deaton believes the SEC made a mistake when it charged Ripple CEO Brad Garlinghouse with aiding and abetting the illegal sale of securities.

Deaton admits in this context It is consideredStatements made by former SEC senior officials Bill Hinman and Jay Clayton in the SEC v. Ripple Labs case, labeled XRP unsafe early on, but the agency willfully ignored this information for a long period of time.

On X (formerly Twitter) means In this regard, cryptocurrency user Digital Asset Investor.XRP has brought a16z attorneys Lowell Ness and Chris Dixon into the case along with Clayton and Hinman.

Deaton agrees that Hinman must testify as a witness and adds that there is usually little legal opportunity for former SEC Chairman Clayton to be subpoenaed to a mandatory trial. However, Deaton believes the SEC made a mistake in its decision to charge Garlinghouse, especially since Clayton accused Ripple management on a personal basis outside of the actual trial.

This may be a backsliding from Clayton that the former SEC chairman would still have to testify in court, since Clayton was part of a conversation with Garlinghouse and the chief technology officer of Ripple in the past, in which the CEO spoke after the famous Hennemann speech — He did not explicitly classify Ethereum as a security – and complained that “XRP is still living in limbo”. This makes Clayton an immediate witness. However, neither Clayton nor Hinman has explicitly commented on whether or not XRP is a security.

A clear statement from Clayton and Hinman at the time could have saved Ripple a lot of time and money, and possibly greatly accelerated the adoption of the company’s cryptocurrency. Meanwhile, the Securities and Exchange Commission (SEC) is trying to overturn the recent ruling by Judge Annalisa Torres that tentatively ruled that XRP is not a security in some cases.

Because of this important point gain, XRP’s trajectory has recently made a huge jump, but this is slowly diminishing again. Recently, a major influence investor moved over $20 million of XRP to cryptocurrency exchanges, which could soon add selling pressure on the Ripple cryptocurrency.