John Deaton, Advocate for XRP Holders, Joins LBRY Lawsuit as Amicus Curiae
John Deaton, a prominent figure known for his active involvement in cryptocurrency-related legal proceedings and discussions regarding regulatory actions, has taken a significant step in the legal arena. Deaton, who represents numerous XRP token holders in the ongoing Ripple–SEC lawsuit, has formally filed a Notice of Appearance as an Amicus Curiae in the LBRY lawsuit.
On September 14, 2023, Deaton officially submitted this Notice of Appearance to the United States Court of Appeals for the First Circuit, representing Amicus Curiae Naomi Brockwell. In response to his submission, Deaton posted on X (formerly Twitter), declaring, “Regardless of the outcome, we are committed to this fight.”
Notably, Naomi Brockwell is the founder of Crypto Law, a platform dedicated to providing insights and updates on legal and regulatory developments pertaining to cryptocurrencies in the United States, often in collaboration with Deaton.
Deaton is widely recognized for his advocacy on behalf of cryptocurrency investors’ rights and his active participation in legal proceedings and discussions related to cryptocurrency regulations.
In March 2021, the United States SEC initiated legal action against LBRY, alleging that the company had unlawfully sold LBC tokens without the necessary registration, as mandated by law.
On September 7, LBRY filed a notice of appeal with the United States Court of Appeals for the First Circuit, challenging the final judgment issued on July 11, which required LBRY to pay a civil penalty and prohibited it from engaging in unregistered offerings of crypto asset securities in the future.
In July 2023, the United States District Court for the District of New Hampshire delivered a final judgment in the US SEC vs. LBRY lawsuit, finding LBRY liable for violating Section 5 of the Securities Act of 1933.
The outcome of the LBRY case had potential implications for the XRP lawsuit. However, on July 14, 2023, U.S. District Judge Analisa Torres issued a summary judgment in favor of Ripple, ruling that the sale of XRP tokens to retail buyers did not constitute securities.
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