John E. Deaton, a lawyer known for his pro-XRP stance, has hinted at a potential significant defeat for the Securities and Exchange Commission (SEC) in its ongoing case against Coinbase. Deaton believes that the odds of Coinbase winning the motion to dismiss have improved to 50%, which is an extraordinarily high percentage for victory. He compared this to his earlier predictions regarding Ripple’s legal battles, which he confidently predicted on Fox Business. Coinbase’s Chief Legal Officer, Paul Grewal, expressed his exasperation with the SEC’s recent filing, taking specific issue with the SEC’s lack of legal citations and challenging their claims. Grewal highlighted recent court decisions, reaffirming that assets like the ones listed on Coinbase aren’t securities. He also drew a provocative parallel, saying that the SEC’s arguments would mean that everything from Pokemon cards to stamps to Swiftie bracelets are also securities. Grewal criticized the SEC’s regulatory approach, accusing it of sidelining a large crypto constituency in the US.The SEC’s motion follows closely on the heels of a significant setback in the Ripple case. US District Court Judge Analisa Torres dismissed the SEC’s interlocutory appeal, citing a lack of clear controlling legal questions and insufficient grounds for divergent opinions on the issue. At press time, XRP traded at $0.52975.

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Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	neutral
Relevance Score	8
People	Paul Grewal, John E. Deaton, Liz Claman, Analisa Torres, Charles Gasparino
Companies	SEC, Rep. Ritchie Torres, Stand With Crypto, Coinbase, US District Court, Fox Business, Ripple
Currencies	Ethereum, Sector, XRP, Bitcoin, Coinbase Wrapped Staked ETH
Securities	None