The post Deaton Demands An End To Ripple Case After SEC Drops Major Crypto Lawsuits appeared first on Coinpedia Fintech News
Recently, the SEC dropped a lawsuit against Hex founder Richard Heart, sparking community hopes that the XRP case could be settled soon as well. With the SEC backing off more crypto lawsuits, there’s more optimism. XRP lawyer John Deaton is asking for a quick end to the Ripple vs. SEC case and is directly in talks with the key SEC officials.
Ripple When, Asks Deaton
He called on key SEC officials Hester Peirce and Mark Udeya, along with crypto experts David Sacks and Bo Hines, to help get the Ripple case dismissed. In an X post Deaton wrote, “As Amici counsel and on behalf of 75K XRP holders, Hester Peirce, David Sacks, Bo Hines, Mark Udeya, when Ripple?”
As Amici counsel and on behalf of 75K XRP holders, @HesterPeirce, @DavidSacks, @BoHines, Mark Udeya, when @Ripple? https://t.co/GuO7G1Gosl
— John E Deaton (@JohnEDeaton1) March 1, 2025
Notably, the latest update on the Hex founder’s lawsuit and John Deaton’s statement come after the SEC dropped several crypto lawsuits against big names like Coinbase, Robinhood, and Uniswap. However, former SEC official John Reed Stark sees this as a red flag, warning it could spell trouble and possibly even the agency’s downfall.
Big Wins For Crypto
In the first month of Donald Trump’s second term, the crypto industry scored some big wins. The SEC dropped or closed six cases and asked courts to pause two more. The crypto industry scored big in the 2024 election, and the full impact is just starting to unfold. Questions about how crypto should be regulated are still unclear.
In the past week, the SEC dropped its case against Coinbase, paused cases against Binance and Tron, and told platforms like ConsenSys, OpenSea, Robinhood, Uniswap, and Gemini that their investigations are being closed.
SEC Focusing On Clear Policies
These moves follow after SEC Commissioner Hester Peirce announced she’ll lead a new crypto task force and asked the public for input on how securities laws should apply to different types of cryptocurrencies. The SEC also withdrew Staff Accounting Bulletin 121, an unpopular accounting rule in the crypto industry.
Though some investigations and cases are still ongoing, it’s clear the SEC is taking a different approach under Acting Chair Mark Uyeda, compared to former Chair Gary Gensler. Hester Peirce stated that the SEC is now focused on creating clear policies to guide future enforcement, instead of letting enforcement actions set the rules.
