XRP Lawsuit News: The U.S. Securities and Exchange Commission (SEC) have tried to stand its ground by presenting different assertion against Ripple and the defendants in the XRP lawsuit. However, the claims around the Common enterprises have become a real problem for the SEC in this case.
XRP lawyer claims SEC is stretching too far
John Deaton, XRP holders’ lawyer in the Ripple Lawsuit called out the experts which are predicting that SEC will secure a win here and claims that XRP is doomed now. He asserted that they are overstating the commission’s chances as their allegations are stretched too far.
XRP lawyer pointed out SEC’s argument around Ripple stating it is a common enterprise. However, Ripple has already forced the commission to admit that holding XRP doesn’t gives a holder rights in RIpple. While Ripple owes nothing to XRP holders.
While before anyone could file the amicus request, XRP holders with 3K affidavits stating the majority of first time buyers submitted their request in the XRP lawsuit. As thousands of the holders bought XRP for non-investment reasons, they received financial benefits independently of Ripple.
However, these amici also challenged the expert witness which are allegedly hired by the SEC in order to issue a report against XRP.
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