3 These Cryptos Are Not Securities! – XRP Lawyer

<p>&nbsp;"Whoever agrees with the words of the XRP lawyer raise their hands."</p><p><br /></p><p>Ripple (XRP) lawyer John Deaton insists that situation will never happen even if the Securities and Exchange Commission (SEC) claims Cardano (ADA), Polygon (MATIC) and other cryptocurrencies are securities.</p><p><br /></p><p>It is well known that the SEC has accused Coinbase of violating securities laws and operating as an unregistered entity, but the crypto exchange boldly denied the allegations vehemently two days ago.</p><p><br /></p><p>According to Attorney Jeremy Hogan, Coinbase is likely to face major problems in defending its non-security status for digital assets following statements given by MATIC executives unable to help the crypto exchange.</p><p><br /></p><p><br /></p><p>However, Deaton revealed that ADA, MATIC, Algorand (ALGO) and other digital assets claimed by the SEC are not secondary securities, they are digital code sequences* that exist in software.</p><p><br /></p><p>*A discrete signal consists of a sequence of numbers that can be easily stored and processed on a digital computer</p><p><br /></p><p>There is no denying that the Supreme Court order once stated that it does not matter whether a digital asset is speculative or has intrinsic value or not, but Deaton claims it is unconstitutional for the commission to define a crypto as a security.</p><p><br /></p><p>He also urged crypto leaders to ask the court to allow them to file amicus briefs in the case between the SEC and Coinbase, in which more than 2,000 individuals have already joined.</p><p><br /></p><p>On the other hand, the lawsuit between the SEC and XRP that has not yet reached its conclusion is waiting for Judge Analisa Torres to deliver the most awaited Summary Judgment.</p>