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0:00 XRP News today
1:20 XRP vs SEC case update
2:54 XRP price prediction
3:43 XRP Ledger Foundation
4:35 CTO Ripple shared an idea he had in 2011
6:44 XRP holders affected by Flare Network
7:34 Will Cryptos like XRP be termed a security if SEC wins?
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Famous XRP Pro lawyer John Deaton said the upcoming hearing between open-source content distribution company LBRY and the SEC is an “incredibly important hearing for all crypto.”
The hearing is scheduled to be held at the Warren B. Rudman United States Courthouse in New Hampshire on January 30 at 3 PM.
In a tweet today, attorney Deaton reiterated that he filed an appearance and amicus curiae brief on behalf of tech journalist Naomi Brockwell in the upcoming hearing.
It bears mentioning that the Investors Choice Advocates Network also filed an amici curiae brief supporting LBRY in the lawsuit.
According to attorney Deaton, LBRY and the amici are requesting that the Judge clarify that the company’s native token, LBC, is not a security.
Furthermore, LBRY and Amici want the Judge to state that the November ruling that went in the SEC’s favour does not include secondary market transactions.
Deaton considers the upcoming hearing important for the entire crypto industry because a win for the SEC would imply that the secondary market transactions of all coins and tokens could be illegal in the U.S.
Deaton’s comments come days after the Crypto Law founder asserted that he does not see any “sensible” cryptocurrency regulations passed anytime soon.
He noted in the Twitter thread that the earliest time the industry could get rational rules would be in the first half of 2025.
For Deaton, judicial results from the LBRY and Ripple lawsuits are the only way the industry could get guidance through the SEC’s regulation by enforcement policy.
Why was Ripple’s validator removed after XRP Ledger Foundation unveils major UNL update? By the way, Ripple CTO shared an insight from 2011 that he never pursued, why did he abandon the idea? So far, the votes favour the controversial proposal raising eyebrows within the XRP community, are Flare Networks influencing the FIP.01 Vote? Finally, Attorney Deaton said he filed an appearance in the final hearing of LBRY vs SEC lawsuit on behalf of Naomi Brockwell, how important is the hearing for all cryptos? Will Cryptos like XRP be termed a security if SEC wins?