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Attorney John Deaton, who advocates for multiple XRP token holders in the Ripple-Securities Exchange Commission (SEC) case, has officially filed his notice of appearance as an Amicus Curiae in the LBRY case.
As per a document filed on Sept. 14, 2023, with the United States Court of Appeals for the First Circuit, Deaton has formally submitted his Notice of Appearance on behalf of Amicus Curiae Naomi Brockwell.
In reference to his filing, Deaton remarked in a post on X (previously known as Twitter),
“Win, lose, or draw, we will be in the fight!”
It is noteworthy that Naomi Brockwell is the founder of Crypto Law, a platform focused on providing insights and updates regarding legal and regulatory matters related to cryptocurrencies in the United States, in partnership with Deaton.
The attorney is recognized for his advocacy on behalf of cryptocurrency investors and his proactive involvement in legal actions and discussions concerning cryptocurrency regulations and legal issues.
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In March 2021, the United States SEC commenced legal proceedings against LBRY, claiming that the company illegally sold LBC tokens without proper registration with the agency, as mandated by law.
On Sept. 7, LBRY submitted a notice of appeal to the United States Court of Appeals for the First Circuit, aiming to contest the final judgment issued on July 11 that 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 rendered the final judgment in the US SEC vs. LBRY case. The decision stated that LBRY was found liable for breaching Section 5 of the Securities Act of 1933.
Related: SEC’s Gary Gensler to maintain stance on crypto enforcement in Senate hearing
The result of the LBRY case was perceived as potentially affecting the XRP lawsuit. However, on July 14, 2023, U.S. District Judge Analisa Torres delivered a summary judgment in favor of Ripple, concluding that the sale of XRP tokens to retail purchasers did not qualify as securities.
Collect this article as an NFT to commemorate this moment in history and demonstrate your support for independent journalism in the crypto sector.
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