Ripple Lawyer: Suing Ripple Executives Will Cost the SEC

08/17 09:36

According to a report from Jinse Finance, Ripple lawyer John E Deaton strongly criticized the handling of the lawsuit between the US Securities and Exchange Commission (SEC) and Ripple Labs. Deaton's comments were in response to Ripple's recent motion to intervene in the legal battle against the SEC. Deaton said that suing Ripple CEO Brad Garlinghouse would make the SEC pay a price. The focus of Deaton's criticism is the SEC's choice to charge specific defendants Brad Garlinghouse and Chris Larsen with aiding and abetting in a non-fraud case. Deaton claimed that this approach of increasing the burden of proof was poorly considered and blamed former SEC officials Jay Clayton and Bill Hinman for it. He claimed that this behavior deviated from legal norms.

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