John Deaton
@JohnEDeaton1
Normally, a Candidate for U.S. Senate would probably not comment on the @SECGov’s decision to appeal a District Court ruling. However, I’m not your typical Candidate and I spent hundreds of pro bono hours and over $75K of my own money, fighting gross overreach and misconduct at the SEC, in this particular case, and on behalf of 75K token holders.
All I asked the SEC to do was agree that XRP itself was NOT a security. It wasn’t a very big ask, considering Judge Castel, in Telegram, had specifically ruled that the Gram token, like Bitcoin, was nothing more than alphanumeric code and NOT the security.
In addition to that ruling, 75 years of caselaw clearly established that anything could be packaged, marketed, offered and/or sold as a security but the underlying asset (or thing) itself was NEVER considered the security.
Condos, Bitcoin, Chinchillas and 
groves were all previously packaged, marketed, offered and/or sold as securities. Doing so didn’t turn Bitcoin itself, or condos into securities.
Hell, even beavers 
were offered as investment contracts. Yet, remained and not transformed into unregistered securities.
The arguments made by the SEC in @Ripple, involving XRP, were akin to arguing that the oranges produced by the Orange Groves in Howey, were unregistered securities, even if a consumer, with no knowledge of the Howey Company, purchased from a grocery store a thousand miles away. The SEC made the absurd argument that the embodied the security. Of course, the SEC couldn’t cite a single case in history supporting its ridiculous assertion.
A lifelong Democrat Judge, appointed by @BarackObama, agreed with my amicus brief (and others) and ruled “XRP itself is not a security” just as I predicted she would on live television on @LizClaman’s show with @CGasparino.
The judge overseeing discovery in the case, ruled SEC lawyers lacked faithful allegiance to the law and essentially called them hypocrites.
I call them downright unethical. Let’s not forget, SEC lawyers were SANCTIONED by a federal judge in the Debt Box case. Clearly, I’m not the only one who thinks so.
Almost 4 years after suing Ripple and making the above ridiculous claims, SEC lawyers apologized (in a different case) for suggesting tokens themselves were securities.
Because the SEC is pursuing an anti-crypto agenda, it will now waste more tax payer money. @GaryGensler is a disgrace.
groves were all previously packaged, marketed, offered and/or sold as securities. Doing so didn’t turn Bitcoin itself, or condos into securities.
Hell, even beavers were offered as investment contracts. Yet, remained and not transformed into unregistered securities.
The arguments made by the SEC in @Ripple, involving XRP, were akin to arguing that the oranges produced by the Orange Groves in Howey, were unregistered securities, even if a consumer, with no knowledge of the Howey Company, purchased from a grocery store a thousand miles away. The SEC made the absurd argument that the embodied the security. Of course, the SEC couldn’t cite a single case in history supporting its ridiculous assertion.
A lifelong Democrat Judge, appointed by @BarackObama, agreed with my amicus brief (and others) and ruled “XRP itself is not a security” just as I predicted she would on live television on @LizClaman’s show with @CGasparino.
The judge overseeing discovery in the case, ruled SEC lawyers lacked faithful allegiance to the law and essentially called them hypocrites.
I call them downright unethical. Let’s not forget, SEC lawyers were SANCTIONED by a federal judge in the Debt Box case. Clearly, I’m not the only one who thinks so.
Almost 4 years after suing Ripple and making the above ridiculous claims, SEC lawyers apologized (in a different case) for suggesting tokens themselves were securities.
Because the SEC is pursuing an anti-crypto agenda, it will now waste more tax payer money. @GaryGensler is a disgrace.Very pro-crypto
BIG NEWS:
Our campaign is now accepting donations made in cryptocurrency. I hope you will chip in and support our effo…