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John Deaton, an XRP attorney, enters the LBRY case as an amicus curiae

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John Deaton, a prominent legal luminary, has made his mark through active involvement in legal proceedings and fervent discussions concerning cryptocurrency regulations and legal ramifications. Notably, he stands as the legal representative for a multitude of XRP token holders embroiled in the Ripple-Securities Exchange Commission (SEC) lawsuit. In a significant development, Deaton has formally filed his notice of appearance as an Amicus Curiae in the LBRY lawsuit.

According to an official document dated September 14, 2023, submitted to the United States Court of Appeals for the First Circuit, Deaton has affixed his official Notice of Appearance on behalf of Amicus Curiae Naomi Brockwell. In reference to this submission, Deaton expressed in a social media post on X (formerly known as Twitter), “Win, lose, or draw, we will be in the fight!”

It’s worth highlighting that Naomi Brockwell, the founder of Crypto Law, a platform committed to providing insights and updates on legal and regulatory developments in the United States concerning cryptocurrencies, collaborates closely with Deaton. Deaton’s reputation as an advocate for the rights of cryptocurrency investors and his deep involvement in legal proceedings and discussions pertaining to cryptocurrency regulations and legal actions precede him.

The legal saga unfolded in March 2021 when the United States SEC initiated legal proceedings against LBRY, alleging that the company had unlawfully marketed LBC tokens without adhering to the agency’s registration requirements, as mandated by law. Subsequently, on September 7, LBRY lodged a notice of appeal with the United States Court of Appeals for the First Circuit, aiming to contest the final judgment issued on July 11. This judgment imposed a civil penalty on LBRY and barred the company from participating 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 its final verdict in the US SEC vs. LBRY lawsuit, holding LBRY accountable for violating Section 5 of the Securities Act of 1933. The outcome of the LBRY case carried implications for the ongoing XRP lawsuit. However, a pivotal moment arrived on July 14, 2023, when U.S. District Judge Analisa Torres issued a summary judgment in favor of Ripple, conclusively determining that the sale of XRP tokens to retail buyers did not constitute the issuance of securities.

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