John Deaton critiques SEC’s view on common enterprise factors in the XRP case.
SEC argues Judge Torres made an error in her XRP ruling.
Deaton believes the common enterprise factor is even more challenging for the SEC to establish.
In response to the recent US regulator filing in the Do Kwon lawsuit, John Deaton, a pro-XRP lawyer, critiqued the agency’s stance on the common enterprise factor in the XRP case, hinting at a potential appeal.
The Securities and Exchange Commission (SEC) argued that Judge Analisa Torres made an error in her XRP ruling and expressed the likelihood of appealing the decision. According to Deaton, the common enterprise factor is even more challenging for the SEC to establish than the third factor of the Howey test, which has been a crucial element in determining whether an investment qualifies as a security.
READ FOOTNOTE 13 PEOPLE:“The Court holds only that a common enterprise existed between Ripple and the Institutional Buyers. The Court does not reach the question of whether the common enterprise extends to encompass "other XP holders." Defendants Garlinghouse and Larsen, the… https://t.co/uQO0q4M6sT pic.twitter.com/VwX4jyChSf
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