XRP Lawyer Slams SEC, Says Their Arguments are Ridiculous and Shameful

[Coinpedia Fintech News]

Pro-XRP lawyer John Deaton explained how the SEC had a strong case but has now undermined its own position. The quoted legal document, referenced as “ECF 640,” appeared to support this claim by stating that the purchase of XRP was an investment of money into a common enterprise.

Deaton also criticized the SEC’s argument by saying that it is so far-fetched that it extends beyond the present and into the future, capturing all possible future sales, even in countries that may recognize XRP as a fiat currency in the future.

The quoted legal document supports this by stating that even if some country recognizes XRP as fiat currency in the future, it would still be considered a security.