Judge says SEC advancing its personal agenda than adhering to the law: Ripple vs SEC

In the Ripple vs SEC lawsuit, the US SEC agency faced significant criticism from the court judge over their rulings outside the authority domain.

Johan Deaton is the founder of Crypto law & also in the crypto industry he is popularly known as the XRP coin holder representative in the Ripple vs SEC case. In Dec 2020, The United States Securities and Exchange Commission (SEC) initiated a lawsuit against Ripple over several factors. Deaton closely watching the case & sharing information with the XRP community.

On 8 March 2023, John Deaton quoted a news article about the BinanceUS-Voyager deal and noted that the court judge slammed the SEC agency badly in the latest XRP lawsuit hearing. 

Deaton said that the federal court judge said that the SEC agency spread a personal agenda instead of following the laws properly.

In total, Deaton shared 3 examples of big court rulings against the SEC agency. In his first example, he noted that the SEC lawyers in the XRP lawsuit were being hypocrites and that they lacked faithful allegiance to the law.

In the second example, Deaton noted that the SEC agency lost its case against the LBRY token, in which the SEC agency was claiming that the LBRY token sale in the secondary marketplace was a violation of the federal securities law. 

By the 3rd example, Cryptolaw founder noted that the SEC agency was slammed by the court judge badly in the BinanceUS-Voyager deal. In the Voyager bankruptcy case, the court judge clearly said that the SEC agency was objecting to the deal & trying to stop the company’s restructuring plan even though they don’t have any reason or any type of guidance against that deal. 

In the last few months, it has been seen that the SEC agency showed strict action against several crypto companies but in the majority of the cases, SEC faced criticism from court judges as well as from the crypto community.

Read also: CFTC chairman says Ethereum is a commodity