Crypto attorney calls on public to form amicus curiae in Coinbase, Binance suits
John Deaton, Managing Partner of Deaton Law Firm, has invited users of Binance and Coinbase to contribute to the court brief to be submitted to the courts handling the case.
Amicus curiae In Latin, it means friend of the court. A person or entity that is not a plaintiff or defendant but has a significant interest in a legal proceeding. This individual or group can influence the legal outcome by submitting a written argument called a “court brief” that expresses an opinion to the court.
Deaton is best known for representing: 75,000 XRP holders in the ongoing SEC vs. Ripple case. He also incited New York State Attorney General Letitia James to take similar actions in support of Ethereum holders. case Against KuCoin.
more deaton Suspect “The SEC is not acting in the best interests of retail cryptocurrency holders,” he argued, “the SEC has a purpose.”
SEC vs Binance and Coinbase
On June 5, the SEC filed a complaint alleging that Binance and its affiliates violated securities laws.
The allegations against Binance include alleging that its BNB exchange tokens are securities, offering trading services for multiple tokens that are considered securities, and wash trading that misleads trading volumes.
The next day, the SEC filed a lawsuit against Coinbase as the crypto industry weighed the implications of the lawsuit. The agency alleged that Coinbase violated securities laws, including operating an unregistered exchange.
Both cases have been filed in civil court, and neither defendant is currently facing criminal charges.
Deaton Mobilizes Grassroots Support
deaton Establishing a “presumed class” of Binance and Coinbase users participating in legal proceedings, aiming to ensure that the interests of cryptocurrency users are represented
Explaining the background of the court brief in the SEC v. Ripple case, deaton He made it clear that he was not defending Ripple. Instead, it was an opportunity to make additional points from a third-party perspective, including the opinions of the group.
He further explained that Ripple has the same ability to protect itself as Binance and Coinbase. However, based on his belief, the lawsuit is hurting cryptocurrency users and this is the SEC’s “Investor protection‘, Mr. Deaton urges affected parties to: Google Docs There you can also indicate your interest in contributing to the court brief.
