said<\/a>\u00a0if it were his choice, he would have\u00a0summoned a16z attorneys Lowell Ness and Chris Dixon as initial witnesses in the SEC vs. Ripple legal battle, along with former SEC officials Clayton and Hinman.<\/p>\nDeaton agreed that it was essential for Hinman to provide testimony but that there was no chance to legally summon a former SEC chair for a trial. Nevertheless, Deaton contends that the SEC erred in its decision to charge Garlinghouse, especially considering Clayton\u2019s inclination to file a complaint against executives on a personal basis in a non-fraudulent context.<\/p>\n
He maintains that Clayton holds substantial importance as a witness who should provide testimony in the courtroom. Notably, Clayton engaged with Ripple\u2019s CEO and chief technology officer, during which Garlinghouse conveyed that \u201cRipple is living in purgatory\u201d following the Hinman speech. However, neither Clayton nor Hinman explicitly stated that XRP was categorized as a security.<\/p>\n
Related: <\/em><\/strong>Gen Z in South Korea prefers XRP and other altcoins to BTC and ETH: Report<\/em><\/strong><\/p>\nObtaining clarification from Clayton and Hinman could have averted legal expenses and time consumption, potentially boosting cryptocurrency adoption. The SEC aims to reverse the decision even after Judge Analisa Torres ruled that XRP is not a security in certain instances.<\/p>\n
Recently, a significant XRP whale moved over $20 million worth of the tokens to exchanges while the price continued breaching its support levels.<\/p>\n
Magazine: <\/em><\/strong>Crypto regulation: Does SEC Chair Gary Gensler have the final say?<\/em><\/strong><\/p>\n<\/div>\n