Advocate for Cryptocurrency Investors Submits Notice of Appearance
John Deaton, a lawyer representing XRP token holders in the Ripple-SEC lawsuit, has officially announced his participation in the LBRY lawsuit as an Amicus Curiae. In a document submitted on September 14, 2023, to the United States Court of Appeals for the First Circuit, Deaton formally submitted his Notice of Appearance on behalf of Amicus Curiae Naomi Brockwell.
Deaton, known for his active engagement in cryptocurrency legal proceedings, expressed his determination, saying, "Win, lose, or draw, we will be in the fight!"
Advocacy for Cryptocurrency Investor Rights
Naomi Brockwell, the founder of Crypto Law, is collaborating with Deaton in their efforts to offer insights and updates on legal and regulatory developments related to cryptocurrencies in the United States. Deaton has consistently advocated for the rights of cryptocurrency investors throughout his career.
The LBRY Lawsuit
LBRY, a company accused of unlawfully selling LBC tokens without registering with the Securities and Exchange Commission (SEC), has been caught up in a legal battle since March 2021. LBRY recently filed a notice of appeal to the United States Court of Appeals for the First Circuit, challenging the final judgment that ordered them to pay a civil penalty and prevented them from participating in unregistered offerings of crypto asset securities in the future.
The United States District Court for the District of New Hampshire issued the final judgment in July 2023, ruling that LBRY violated Section 5 of the Securities Act of 1933. The outcome of the LBRY case is closely watched because it could have implications for the ongoing XRP lawsuit.
XRP Lawsuit
In a significant development for XRP, U.S. District Judge Analisa Torres issued a summary judgment in favor of Ripple on July 14, 2023. The judgment determined that the sale of XRP tokens to retail buyers did not fall under securities regulations. This ruling marked a positive outcome for Ripple, setting a precedent for other ongoing cryptocurrency legal battles.
