- Lawyer John Deaton has joined the LBRY lawsuit to support Naomi Brockwell.
- LBRY faced SEC allegations of unlawful token sales, leading to a judgment in July 2023, while Ripple won a favorable summary judgment in a separate case.
- Deaton’s involvement highlights his ongoing commitment to championing the rights of cryptocurrency stakeholders amid evolving legal challenges.
Lawyer John Deaton, renowned for his representation of XRP token holders in the Ripple-Securities Exchange Commission (SEC) lawsuit, has officially entered the legal arena once again. Deaton submitted his Notice of Appearance as an Amicus Curiae in the LBRY lawsuit, further solidifying his commitment to the cryptocurrency community’s legal rights.
A notable move in the LBRY lawsuit
In a formal document filed on September 14, 2023, with the United States Court of Appeals for the First Circuit, John Deaton formally announced his involvement as an Amicus Curiae in the LBRY lawsuit. This development comes as LBRY seeks to challenge a final judgment imposed on July 11, 2023, by the United States District Court for the District of New Hampshire. The judgment ordered LBRY to pay a civil penalty and prohibited the company from participating in unregistered offerings of crypto asset securities in the future.
John Deaton’s Notice of Appearance was submitted on behalf of Amicus Curiae Naomi Brockwell, the founder of Crypto Law. Crypto Law is a platform dedicated to providing insights and updates on legal and regulatory matters pertaining to cryptocurrencies in the United States, often in collaboration with Deaton himself. Deaton’s representation of Brockwell demonstrates his unwavering commitment to championing the interests of cryptocurrency enthusiasts and stakeholders.
Deaton’s ongoing commitment to cryptocurrency rights
John Deaton has gained recognition for his active involvement in legal proceedings and discussions surrounding cryptocurrency regulations and legal actions. His relentless pursuit of justice for XRP token holders in the SEC lawsuit underscored his dedication to the crypto community. John Deaton’s statement on social media platform X (formerly known as Twitter) encapsulates his resolute stance:
“Win, lose, or draw, we will be in the fight!”
LBRY’s legal battle
LBRY, a blockchain-based content-sharing platform, found itself in the crosshairs of the United States SEC in March 2021. The SEC alleged that LBRY had unlawfully sold LBC tokens without registering them with the agency, a violation of the Securities Act of 1933. The legal dispute culminated in a final judgment in July 2023, which held LBRY liable for violating Section 5 of the aforementioned Act.
The outcome of the LBRY case was closely watched by the cryptocurrency community due to its potential implications for the broader crypto space. However, on July 14, 2023, U.S. District Judge Analisa Torres issued a summary judgment in favor of Ripple, the company behind XRP. Judge Torres ruled that the sale of XRP tokens to retail buyers did not constitute securities, marking a significant victory for Ripple and XRP token holders.