Deaton Demands An End To Ripple Case After SEC Drops Major Crypto Lawsuits
Recently, the SEC filed a lawsuit against HEX founder Richard Heart, which inspired the community to hope that the XRP case could be resolved as soon as possible. As the SEC supports more crypto litigation, there will be a more optimistic attitude. XRP lawyer John Deaton demanded a quick end to the Ripple vs. SEC case and held talks directly with SEC officials.
Ripples ask Diton
He called on SEC officials Hester Peirce and Mark Udeya, as well as crypto experts David Sacks and Bo Hines, to help dismiss the ripple case. Deaton wrote in the X post: “As an Amici lawyer and representing 75K XRP holders, Hester Peirce, David Sacks, Bo Hines, Mark Udeya, Mark Udeya, when will it ripples?”
It is worth noting that the latest updates on the hexadecimal founder lawsuit and John Deaton come after the SEC dismissed several crypto lawsuits against prominent figures such as Coinbase, Robinhood and Uniswap. However, former SEC official John Reed Stark saw it as a red flag, warning that it could be in trouble and could even be the downfall of the agency.
The big victory of the crypto cake
In the first month of Donald Trump’s second term, the cryptocurrency industry has achieved some huge victories. The SEC has revoked or closed six cases and asked the court to stop two more cases. The crypto industry scored very well in the 2024 election, and the full impact was just beginning to develop. The question about how to regulate cryptocurrencies is not clear.
Over the past week, the SEC has dropped the case against Coinbase, suspended the cases against Binance and Tron, and told platforms such as Consensys, Opensea, Robinhood, Uniswap and Gemini that their investigation has been closed.
SEC focuses on clear policies
SEC Commissioner Hester Peirce announced she would lead a new crypto task force and solicit opinions from the public on how the securities laws should apply to different types of cryptocurrencies. The SEC also withdrew Employee Accounting Notice 121, an unpopular accounting rule in the crypto industry.
Although some investigations and cases are still ongoing, the SEC has taken a different approach under Acting Chairman Mark Uyeda compared to former chairman Gary Gensler. Hester Peirce said the SEC is now focusing on developing clear policies to guide future enforcement rather than allowing enforcement actions to set rules.
