Pro-XRP Lawyer Explains How Gary Gensler May Face Troubles if Judge Rules Against Ripple

In the continuing Ripple vs. SEC case attorney John Deaton, the founder of Crypto Law, has spoken out about how Judge Anastasia Torres is taking her own sweet time to issue the summary judgment.

There is a lot of writing on it and he thinks that she’s taking her time because historically she’s been a good judge and a lot could depend on her decision, which could be the most significant non-fraud SEC enforcement case since the Howie decision in 1946.

In an interview with Real Vision Crypto, he said that a lot of people are anxious because of the upcoming decision and talking about the pressure, he added that the decision is not just about XRP anymore. He said, “You have 15 amicus briefs, digital Chamber of Commerce, Coinbase XRP holders…”

Deaton believes that it has been proven that there was coordination between the defunding of the banks, the seizure of Signature Bank, and the requirement that the buyer of Signature Bank divests any cryptocurrency deposits. The New York attorney general is currently suing Kucoin for calling eth security, and the chairman of the SEC claimed that eth was security back when the merger took place.

He said, “We’re witnessing an absolute in a real-time coordinated effort to damage this asset class in my opinion. In my opinion, part of it is I think at this point they’ve accepted that Bitcoin and certain digital assets are here to stay.”

Talking about what will happen if the decision is against Ripple, he said, “The decision is bad for Ripple and XRP and crypto in general. It’s going to gain more momentum for Gary Gensler in the SEC. If the judge stops them in their tracks and says this is overreach, this is government intrusion and kind of slaps them down then I think we’re going to see a lot of his political momentum.”

Deaton also said that the rest of the world doesn’t really give a damn about the SEC and their theories of what’s security and what meets the Howey test and added that the rest of the world is moving on.