John E Deaton made another analysis of the trial

Lawyer John E Deaton made another analysis of the trial.

Lawyer John E Deaton on twitter made another analysis of the trial. He noted:

As I point out to Judge Torres in our Amicus Brief, #XRP is already the first regulated cryptocurrency in the U.S. when considering the 2015 FinCEN/DOJ settlement.

Not only did Ripple have to register as a MSB but had to register #XRP sales with FinCEN and the DOJ – NOT THE SEC. Ripple had to select a 3rd party auditor APPROVED BY FinCEN & the DOJ, to submit audits of XRP sales for FIVE YEARS.

DOJ doesn’t regulate “Financial products”, they are prosecutors of criminal frauds though.

DOJ has both a civil and criminal division. As you can see 2 Assistant US Attorneys signed the agreement on behalf of DOJ, Treasury (FinCEN) and the IRS. Btw, no fraud was alleged in the criminal investigation – it was b/c Ripple didn’t KYC @rogerkver – who they knew quite well.