John Deaton and Marc Fagel debate the XRP lawsuit’s joint motion, questioning its legal strength and hinting at possible case outcomes.
The most recent development in the XRP Lawsuit has sparked a legal debate on the internet.
In a recent judicial filing, Marc Fagel, a former regional director of the Securities and Exchange Commission (SEC), expressed significant reservations regarding the agency’s rationale.
John Deaton Critiques SEC’s “Weak” Legal Argument In XRP Lawsuit
John E. Deaton, a crypto lawyer, thinks that the agency’s explanation may not be lawfully sufficient.
He stated that citing the election and shifting concentration away from crypto is not a valid legal justification.
Despite their occasional disagreements, John Deaton responded that he holds Fagel’s experience in high regard.
The renowned crypto lawyer invited him to engage in a more in-depth conversation on his program, teasing that spending a Saturday morning could be an enjoyable way.
Fagel responded that he was uncertain about the audience’s reaction to his viewpoints and that the novelty of the motion prevented him from making a definitive prediction regarding the outcome.
The discussion is centered on a recent joint request that Ripple and the SEC submitted.
They are requesting an “indicative ruling” from Judge Analisa Torres. This legal maneuver may indicate they intend to reopen the case or pursue an alternative judgment outcome.
John Deaton thinks that the brief submitted to substantiate the request is the weakest to date in the case.
Legal Experts Call New Motion Into Question Due To Their Argument
According to the crypto counsel, the motion does not provide the level of detail typically required in motions that necessitate evidence of “exceptional circumstances.”
That legal standard must be met to justify a judge’s reconsideration of a case that has already been decided.
John Deaton observed that both parties were optimistic that the judge would not dismiss the motion entirely.
Nevertheless, he doubted the magistrate would be satisfied with such a brief explanation.
Deaton intends to provide a comprehensive analysis of the latest filing in the XRP lawsuit during a livestream on June 14.
He suggested that the brief did not adequately address the complete legal implications of the inquiry.
Fagel’s remarks suggest that not all individuals are convinced that the SEC has adequately substantiated its case.
The interaction between Deaton and Fagel provides a unique perspective on the legal minds’ understanding of the intricacies of the case.
Both parties concur on one point: the outcome of this motion is uncertain and unusual.
In the meantime, Bill Morgan, an additional attorney, thinks that Judge Torres will grant the motion, emphasizing the significance of the joint motion in the XRP litigation.
