According to an XRP lawyer, the U.S. Securities and Exchange Commission (SEC) employed Ripple's transparency measures as leverage against both CEO Brad Garlinghouse and Ripple in the ongoing legal proceedings.
During a recent interaction on Twitter, John Deaton, the founder of Crypto-Law.US and a prominent advocate of Ripple, expressed his disapproval of the regulatory landscape established by the U.S. Securities and Exchange Commission (SEC) for cryptocurrency companies. CoinGape also reported that the XRP community, including Attorney Bill Morgan and Deaton, has raised concerns regarding the delay in Judge Torres' ruling.
Advocate for Ripple Raises Concerns Over SEC Actions
In response to a tweet by @lex_node discussing the significance of "KYC-ish crypto things" in terms of system security and centralization, Deaton concurred that prominent token holders should be obliged to disclose their identities and the proportion of token supply under their control.
Deaton emphasized the measures taken by Ripple Labs, such as cryptographic escrow implementation and the publication of quarterly reports on XRP sales, as a testament to their commitment to transparency. Nonetheless, he asserted that the SEC had used this transparency as a basis against Ripple and its CEO, Brad Garlinghouse, in the ongoing legal proceedings.
During a recent interaction on Twitter, John Deaton, the founder of Crypto-Law.US and a prominent advocate of Ripple, expressed his disapproval of the regulatory landscape established by the U.S. Securities and Exchange Commission (SEC) for cryptocurrency companies. CoinGape also reported that the XRP community, including Attorney Bill Morgan and Deaton, has raised concerns regarding the delay in Judge Torres' ruling.
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