XRP -army ‘made a difference’ in SEC case against Ripple, says lawyer

Lawyer and XRP Legal lawyer John Deaton claims that the XRP – armor – a group of online supporters who continued to support the cryptocurrency during his low point – has successfully played a role in Ripple his legal battle with the US Securities and Exchange Commission.

In one XDeaton quoted the Thousands of sworn explanations That self-proclaimed XRP armored members wrote and wrote to the court as a reason that Ripple achieved a partial victory against the regulator in his battle for the safety status of XRP. A statement is a written statement that can be used as evidence for the court.

The SEC and Ripple were engaged in a legal dispute for almost half a decade, after Ripple and two of his managers in 2020 were sued for the alleged supply of non -registered effects by selling XRP.

In October 2023, federal district judge Analisa Torres issued a split ruling, which states that XRP sales to institutional investors have violated the securities laws, but not selling on public stock markets. The ruling was praised on the Crypto industry as a victory for Ripple, despite the fact that it made the company liable for its institutional sale.

“No credible person can claim that the XRP army has made no difference in the wrinkle store,” Deaton wrote on x. “If they do, they are either ignorant of the facts and truth or deliberately lying.”

‘[Judge Torres] Governed XRP itself is not security while quoting XRP holders statements, “Deaton wrote on X.” Had she not mentioned those things, people could debate legitimate or made our efforts a real difference. But the proof is in the decision itself. ‘

The XRP army is a militant supporters group that formed as a response to the business of the SEC against Ripple. The legal dispute Unified XRP investors, with thousands of sworn declarations written to the court by army members, according to Deaton.

“I submitted six sworn statements that were used in the court case because I was only paid in XRP as an income, my XRP spent on goods and services, accounts, etc.” James rule told Decrypt. “Thousands came together and the end result was a huge victory for the industry.”

Deaton – who challenged Elizabeth Warren for her senate seat last year without success – also has one Amicus letter To support the legal position of Ripple. An amicus assignment is a legal document that is provided to a court of a party that is not directly involved in the case.

Pseudonym XRP -Legil Cryptoinsightuk Further told Decrypt That some members of the community said the judge that they used XRP without even being aware of Ripple.

“You can’t buy something that relies on an entity with the expectation of profit if you don’t even know that the entity exists,” they said.

The legal battle between Ripple and the regulator remained until just last month as the SEC appealed against the ruling of 2023It was followed by one Cross appeal by Ripple. Both parties ultimately dropped their respective professions Last month, such as XRP members celebrated the result.

“We came together bigger and stronger from this battle,” said pseudonymous XRP -Member of Mackattackxrp Decode, Respond to the news. “And we have known for years that we were on the right side of history.”