John Deaton, a lawyer representing over 75,000 individuals affected by the SEC v. Ripple case, has criticized the U.S. Securities and Exchange Commission’s actions in the lawsuit against Ripple Labs. The lawsuit alleges that Ripple’s native cryptocurrency, XRP, should be classified as a security. Deaton’s comments came after his blog post criticizing the SEC’s appeal strategy. He questions the SEC’s desire for an efficient resolution, pointing out the incongruity of their request for a stay. Deaton argues that even if the SEC secures an early appeal victory, it would only lead to further delays and appeals, undermining their goal of a swift resolution.
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