Amidst the ever-changing and volatile landscape surrounding cryptocurrency, one narrative has been consistently developing for a long time now, and that is the lawsuit levied against Ripple by the SEC.
Most recently, however, the SEC has filed one more reply memorandum of law through which the continual intervention in the case on the part of various XRP token holders had been opposed. The SEC claims that these holders, despite their best intentions, are ineligible to appear as ‘friends of the court’ (amici curiae) due to them being much ‘too partial’ and the fact that their interests will almost certainly coincide with Ripple’s, thereby being biased.
John Deaton had been the one accused by the SEC for blatantly attacking the agency. The SEC cited examples of Deaton utilizing profanity and also referenced cases of physical violence being carried out in order to publicly attack the commission and its respective staff members.
Furthermore, the SEC also claims the movants are trying their hand at ‘inappropriately’ expanding any and all relevant issues pertaining to the case in an attempt to garner increased public support for Ripple.
Accusations of promoting violence shut down by Deaton
The movants, for their part, have since outright denied the allegations made against them by the SEC, claiming that the agency is doing nothing more than simply ‘targeting the messenger’ through its attempt at portraying the aforementioned attorney in a negative manner. Any and all indications and incitements of violence had thus been denied, and it had been said that the comments which the SEC was alluding to were ‘humorous’ and ‘satirical’ in nature.
The movants claim that this latest move by the SEC to shift the attention towards John Deaton is not only an attempt to direct our gaze away from the ongoing legal battle but that the idea that drug use or violence would be promoted in any way is both ridiculous and sad. The movants further stated that all the SEC is really trying to do cast a negative light onto the widely controversial motion to intervene on behalf of Ripple.
Whatever the case may be, things are certainly starting to get a little ugly as far as the case is concerned, and one can only hope for a quick resolution to all of this before things truly get out of hand. As of the time of this writing, XRP is trading at $1.53.