Charles Gasparino’s column in the New York Post sparked debate among XRP supporters after he questioned Judge Torres’ decision on XRP and Ripple Labs.
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XRP in the Spotlight
The SEC and Ripple are at odds over the classification of XRP. The SEC claims that XRP is a security, while Ripple argues that it is a currency. The outcome of this case could have major implications for the cryptocurrency industry.
Judge Torres’ ruling in the case found that XRP does not qualify as a security, contrary to the SEC’s claims. This decision has sparked a new perspective on cryptocurrency regulation, suggesting that it may not solely be under the SEC’s jurisdiction.
Voice from the Cryptoverse
Attorney John Deaton, founder of CryptolawUS, expressed his backing for Judge Torres’ ruling and shared his ongoing legal battles with the SEC over cryptocurrency matters, particularly XRP. On Twitter, Deaton criticized the tribalism and echo chamber politics surrounding the case, while also calling out the SEC for what he perceives as inconsistent treatment of various cryptocurrencies.
You know how I like to bring FACTS to a discussion.
So let’s review Judge Torres’ record on appeal:
She had SIX summary judgment decisions go up on appeal. ALL SIX were affirmed.
— John E Deaton (@JohnEDeaton1) July 24, 2023
According to Deaton, the SEC’s approach to regulating cryptocurrencies has been inconsistent. He highlighted that the commission granted Ethereum, another popular cryptocurrency, a regulatory exemption, while subjecting XRP to intense scrutiny.
Deaton praised Judge Torres’ ruling, affirming that she made the right decision despite criticisms that it contradicts the policy considerations of the 1934 Securities Act. He commended her track record and believes the SEC will face significant challenges in overturning her decision on appeal.
Deaton also shared his personal experience, stating that he faced criticism from Bitcoin enthusiasts when he sued the SEC over its claims regarding XRP. He emphasized that his substantial investment in Bitcoin did not deter his advocacy for XRP.
Defend the Judiciary
James A. Murphy, a lawyer and founder of Metalawman, countered Gasparino’s column on Twitter, stating that the criticisms against Judge Torres were uninformed and misleading. He highlighted the importance of distinguishing between stocks and cryptocurrency tokens, which he believed Gasparino overlooked, and expressed support for Judge Torres’ ruling.
This @CGasparino column is a great example of why I oppose censorship.
I believe everyone should be able to read Gasparino's ill-informed and nonsensical column attacking Judge Analisa Torres' decision in the Ripple case.
Gasparino calls the Harvard educated Judge Torres… https://t.co/ydm6Gt5cSP
— MetaLawMan (@MetaLawMan) July 23, 2023
James A. Murphy emphasized that lawyers and the American Bar Association have a duty to strongly respond to defamatory attacks against the judiciary.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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