Attorney John Deaton, who represents the thousands of XRP token holders in the U.S. Securities and Exchange Commission (SEC) lawsuit, predicted that some legal action may be coming in the way of Binance. He said there have been too many unusual things in recent times that he will not be surprised if the crypto exchange gets a sealed indictment from the United States Department of Justice (DOJ).
From Killing Crypto To Crushing It
Speaking during a Twitter space on Wednesday, Deaton said there is a momentum shift in the way regulators and lawmakers are looking at when dealing with the crypto industry. He said the crypto market participants need to prepare for a longer fight.
“Unfortunately I think we have to be prepared for a longer fight. We are witnessing them going from “We are going to kill crypto to no, well we can’t so we are going to crush it so that the traditional players can come in and swoop it up.”
Earlier, CoinGape reported Deaton’s comments that crypto as a policy issue should be fought in Courts until 2025, after which there could be political consensus on the issue in the United States.
Need A Sense Of Urgency
Attorney Jeremy Hogan, who also took part in the Space, recalled that the US SEC had even mentioned in a filing about not appealing the XRP Summary Judgment. The SEC said it is not appealing whether XRP is in and of itself a security so that is off the table, he added.
Attorney Hogan said the ideas, people and resources are fleeing the United States in search of finding a place where they could develop the great ideas at least legally. Hence, he called for having a sense of urgency in terms of taking action to stop the trend.
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