XRP Advocate and Crypto Lawyer John Deaton Joins LBRY Lawsuit – Here's the Latest

Crypto News
Crypto News

16 Sep 2023 10:23 AM

John Deaton, the attorney renowned for representing XRP token holders in their legal battle against the SEC, formally filed a notice to serve as Amicus Curiae in the LBRY court case....

  • John Deaton, attorney for XRP token holders, has filed a notice to serve as Amicus Curiae in the LBRY court case.
  • LBRY recently filed an appeal to challenge a final judgment that mandated them to pay a civil penalty and prohibited unregistered offerings of cryptocurrency securities.
  • John Deaton expressed his dedication to the case, regardless of the outcome.
  • LBRY was sued by the SEC for unlawfully selling LBC tokens without registering.
  • LBRY lost the legal battle and was ordered to pay a $22 million penalty, which was later reduced to $111,614.
  • Recent legal victories by Ripple and Grayscale against the SEC have raised optimism for a positive outcome on appeal.
  • The LBRY case is seen as having potential implications for the XRP lawsuit.
  • LBRY filed an appeal stating that the SEC's decision is unjust and intends to damage the cryptocurrency industry.
  • John Deaton, along with Naomi Brockwell, submitted a Notice of Appearance representing Amicus Curiae in the LBRY case.

The sentiment in the article is mixed. There is optimism for a positive outcome on appeal based on recent legal victories, but there is also concern about the SEC's intentions and the potential impact on the cryptocurrency industry.

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