John Deaton, an attorney representing numerous XRP token holders in Ripple’s lawsuit with the Securities and Exchange Commission (SEC), has officially filed a notice of appearance as an amicus curiae in the LBRY lawsuit.
according to a document submitted On September 14, 2023, Deaton formally submitted a notice of appearance to the U.S. Court of Appeals for the First Circuit on behalf of amicus curiae Naomi Brockwell.
Deaton expressed his opinion explain In a post on X (formerly Twitter),
“Win, lose, draw, we will fight!”
It is worth noting that Naomi Brockwell is the founder of Crypto Law, a platform dedicated to working with Deaton to provide insights and latest information on cryptocurrency-related legal and regulatory developments in the United States.
The attorney is known for advocating for the rights of cryptocurrency investors and for being actively involved in legal proceedings and discussions regarding cryptocurrency regulations and legal proceedings.
In March 2021, the U.S. SEC initiated legal proceedings against LBRY, accusing the company of illegally selling LBC tokens without registering with the agency as required by law.
September 7, LBRY submit A notice of appeal was filed with the U.S. Court of Appeals for the First Circuit, seeking to challenge a final judgment issued on July 11 that required LBRY to pay a civil penalty and prohibit it from participating in future unregistered crypto-asset securities offerings.
In July 2023, the U.S. District Court of New Hampshire issued a final judgment on the U.S. SEC v. LBRY lawsuit. The ruling stated that LBRY was liable for violations of Section 5 of the Securities Act of 1933.
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The outcome of the LBRY case is seen as having potential implications for XRP litigation. However, on July 14, 2023, U.S. District Judge Analisa Torres issued a summary judgment in Ripple’s favor, finding that the sale of XRP tokens to retail buyers did not constitute securities.
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