Crypto law expert Jeremy Hogan believes that the Ripple v. US Securities and Exchange Commission (SEC) case is finally “closed”.
Hogan is responding to news that attorney and XRP proponent John Deaton recently submitted a letter requesting that 67,000 XRP holders be represented.
The move is a direct response to the SEC wanting to bring in experts to testify what XRP holders were thinking when they bought the sixth-largest crypto asset.
Hogan said the move could “make a difference in the situation.”
“Judges have granted communion status to XRP holders, but they still have to ask the judge before doing anything, where Deaton requests a court leave to file an amicus briefing on the Daubert challenge involving expert opinion .Mr. Doody.
See page 1. ‘ Amici respectfully requests the leave to submit an Amicus Brief to the comments of Patrick B. Doody, an expert on the manuscript. Daubert’s concerns related to Doody’s comments represent the exact nature of the difficult problem the courts anticipated when granting paternity status…
‘Amici’s attorney recently said Mr. I found out about Doody’s report.’”
Hogan says the SEC wants “expert” witnesses to testify about what XRP holders thought when they bought crypto assets.
“Deaton represents 67,000 real XRP holders and wants to present what they really thought. So, of course, the SEC is against it.
Deaton wants to file a brief ‘Daubert’ consent involving an expert hired by the SEC to discuss the motives of XRP buyers. This means that Ripple is trying to attack the witnesses entirely because there is no ‘reasonable scientific basis’.”
Hogan says his only concern with movement is timing.
“This is because no actual strike request against the appraiser has been received yet. There is no deadline until August 30th. But attorney Deaton had to try and file this application now because if he had to wait until August 31, he had only a month and a half left to file his application, obtain court clearance, complete and file the briefing. Close in time.”
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