Live Chat

Crypto News

Cryptocurrency News 1 years ago
ENTRESRUARPTDEFRZHHIIT

Lawyer representing XRP holders joins LBRY lawsuit, potential implications for XRP case

Algoine News
Summary:
Lawyer John Deaton has filed his notice of appearance as an Amicus Curiae in the LBRY lawsuit, representing XRP token holders. This development could have implications for the XRP lawsuit. LBRY had appealed a judgment ordering them to pay a civil penalty. Naomi Brockwell, founder of Crypto Law, collaborated with Deaton on this matter.
Lawyer John Deaton, who represents multiple XRP token holders in the Ripple-SEC lawsuit, has officially filed his notice of appearance as an Amicus Curiae in the LBRY legal case. The submission was made on Sept. 14, 2023, to the United States Court of Appeals for the First Circuit on behalf of Amicus Curiae Naomi Brockwell. Deaton expressed his commitment to the fight, regardless of the outcome. Naomi Brockwell, the founder of Crypto Law, collaborated with Deaton to provide legal and regulatory insights on cryptocurrencies in the U.S. In March 2021, the SEC initiated a legal action against LBRY, accusing them of selling LBC tokens without proper registration. LBRY appealed the final judgment entered on July 11, seeking to challenge the civil penalty and the ban on participating in unregistered offerings of crypto asset securities. The U.S. District Court for the District of New Hampshire issued the final judgment in the SEC vs. LBRY case in July 2023, finding LBRY liable for violating the Securities Act of 1933. This ruling stirred potential implications for the XRP lawsuit. However, on July 14, 2023, U.S. District Judge Analisa Torres ruled in favor of Ripple, determining that XRP tokens sold to retail buyers were not securities.

Published At

9/15/2023 8:20:58 AM

Disclaimer: Algoine does not endorse any content or product on this page. Readers should conduct their own research before taking any actions related to the asset, company, or any information in this article and assume full responsibility for their decisions. This article should not be considered as investment advice. Our news is prepared with AI support.

Do you suspect this content may be misleading, incomplete, or inappropriate in any way, requiring modification or removal? We appreciate your report.

Report

Fill up form below please

๐Ÿš€ Algoine is in Public Beta! ๐ŸŒ We're working hard to perfect the platform, but please note that unforeseen glitches may arise during the testing stages. Your understanding and patience are appreciated. Explore at your own risk, and thank you for being part of our journey to redefine the Algo-Trading! ๐Ÿ’ก #AlgoineBetaLaunch