Pro-XRP lawyer John Deaton has openly criticized Senator Elizabeth Warren and SEC Chair Gary Gensler, accusing them of regulatory actions that push crypto firms out of the U.S.
John Deaton’s Ongoing Critique of Warren and Gensler
John Deaton, a well-known attorney and advocate for cryptocurrency, has once again targeted Senator Warren and SEC Chair Gary Gensler. This duo has long been his primary focus due to their regulatory stance, which Deaton believes unfairly targets the crypto sector. Despite his criticism, Deaton remains hopeful for the industry’s future.
John Deaton’s Role in Shaping the U.S. Crypto Landscape
Deaton first entered the crypto arena as a defender of XRP holders in the legal battle between SEC and Ripple. Recently, however, his advocacy has expanded. Following the recent elections, where Elizabeth Warren lost her Senate seat in Massachusetts, Deaton sees an opportunity for the crypto industry, which has long sought clearer regulatory guidelines.
Deaton argues that Warren and Gensler have contributed to an environment contrary to what the crypto industry needs. Many entrepreneurs in the space have claimed they can’t offer their products in the U.S. due to the risk of legal action. Over the past year, the SEC has issued several “Wells Notices” to companies like OpenSea, Uniswap, and Robinhood. This approach has driven many companies abroad. Deaton believes that with Donald Trump’s expected inauguration in January, the regulatory landscape could shift.
Bitcoin’s Rise and the Anticipated Economic Boom in the U.S.
Deaton’s comments came in response to a post by Gemini’s co-founder Tyler Winklevoss, who remarked that Bitcoin’s surge above $85,000 reveals how toxic Warren and Gensler’s approach has been for the crypto industry. With a new administration incoming, he believes it’s time to prepare for a “massive U.S. economic boom.”

While many are optimistic about economic growth, some critics, such as Peter Schiff, warn against stockpiling Bitcoin reserves, arguing it could harm the U.S. dollar. At the time of writing, Bitcoin’s price stands at $86,743.43, reflecting a 6.52% increase over the past 24 hours.

#cryptoregulation , #Xrp🔥🔥 , #GaryGensler , #CryptoLaw , #CryptoNewss

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SEC’s Battle Against Ripple: A Crucial Moment for $XRP Holders ⚖️
As the legal showdown between the SEC and Ripple continues to unfold, attorney Fred Rispoli has shared some key insights that could determine the future of $XRP. Appearing on the "Thinking Crypto" podcast, Rispoli revealed what could make or break the SEC’s chances of winning the case. According to him, the outcome may depend largely on the panel of judges that gets assigned to handle the appeal. 📜
He emphasized, “If the panel has a track record of siding with the government, the SEC's odds could skyrocket—possibly giving them a 70-80% chance of winning." This puts Ripple and $XRP holders on edge, as the panel’s composition might tilt the scales in favor of the SEC. 😨
However, Rispoli believes Ripple has the tools to fight back. Despite the risks on both sides, Ripple's chances could improve in certain areas of the case, particularly in programmatic sales, which he sees as the most dangerous aspect for $XRP holders. This part of the appeal will likely be the SEC’s key target, and if they succeed, it could spell trouble not only for Ripple but also for other major players like Coinbase and Kraken. 🔥
Rispoli also anticipates that the SEC will push for higher penalties in the final judgment, making it even more crucial for Ripple to maintain the confidence of its institutional investors throughout the appeal process. With so much at stake, this battle could define the future of $XRP and the wider crypto market. 🌐
#Ripple #XRP #CryptoLaw #SECvsRippleAppeal #BinanceLaunchpoolView
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Smart contracts are now legally enforceable in Argentina
Smart contracts, which are blockchain-automated programs, have gained official legal recognition in Argentina. The local judicial system has, for the first time, acknowledged the enforceability of a smart contract, meaning they can now be used for legal transactions such as rental agreements or payment for purchases. Cryptocurrencies have recently been approved as valid means of payment in commercial contracts in the country.
Legal Milestone for Smart Contracts in Argentina
Smart contracts, automatically executed digital contracts based on blockchain, have reached a significant milestone in Argentina. According to local reports, the first smart contract based on the Cardano blockchain has been recognized by an Argentine court as legally binding. This historic event may be one of the first not only in Argentina but also in the world.
The contract involved a four-month loan of 10,000 ADA (approximately $3,430) with a 10% interest rate between two Cardano representatives in Argentina, Mauro Andreoli and Lucas Macchia. Andreoli stated that the formalization of this contract means that “any breach can be legally enforced in ADA cryptocurrency.”
Additional Legal Document for the Smart Contract
Due to the digital nature of smart contracts, an additional legal document had to be signed. This document detailed the loan, the blockchain on which the contract was built, and the wallet addresses associated with the transaction. Since this was the first case of its kind, similar documentation may be required in future instances to legalize smart contracts.

Andreoli highlighted the importance of this development, stating:
“We’ve just signed the first legally and judicially binding contract on the Cardano network, fully compliant with the laws of the Argentine Republic.”
Educating Judges and the Future of Smart Contracts
Andreoli believes the crypto community should work on educating national judges to familiarize them with this new type of contract. He sees this event as the “initial step in creating favorable case law in the country and facilitating business transactions.”
Smart contracts are supported by President Milei’s omnibus law, which legalized the use of Bitcoin and other cryptocurrencies as part of commercial contracts in Argentina. Andreoli concluded that smart contracts can now be used to formalize rental, purchase, and other legal agreements.
#smartcontracts , #blockchaininnovation , #CryptoLaw , #CryptoNews🚀🔥 , #Argentina

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The Australian Federal Police (AFP) achieved a significant victory in their fight against organized crime by seizing $9.3 million worth of cryptocurrency. The operation uncovered the secret encrypted communication platform Ghost, leading to the arrest of its alleged creator. Using digital forensic analysis, authorities managed to crack the suspect's cryptocurrency accounts. This action is part of an ongoing investigation aimed at dismantling criminal networks and confiscating assets obtained through illegal means.
AFP Seizes $9.3 Million in Cryptocurrency in Operation Kraken
The Australian Federal Police announced that, as part of Operation Kraken targeting organized crime, they seized $9.3 million in cryptocurrency on September 17. The primary focus of the operation was the alleged creator of the encrypted communication platform Ghost, which was used by criminal organizations.
The suspect, a 32-year-old man from Narwee, was arrested and charged with supporting a criminal organization. According to the AFP, the assets were secured after their digital forensics team deciphered the "seed phrase" to the cryptocurrency account following the analysis of digital devices obtained from the suspect's home.
The seized funds were confiscated under the Commonwealth Proceeds of Crime Act.
Successes of Operation Kraken
CACT (Criminal Assets Confiscation Taskforce), established in 2012, works alongside experts from various institutions such as the Australian Taxation Office and AUSTRAC. Since 2019, it has seized criminal assets worth over $1.1 billion. The confiscated funds are held in a forfeited assets account, which supports crime prevention and law enforcement across Australia.
The investigation is still ongoing, and if the seized assets are confirmed as illegally obtained, they may be transferred to Commonwealth ownership.
Criminals Cannot Hide Their Illegal Gains
AFP demonstrated its ability to trace and recover hidden assets. Acting Commander Scott Raven emphasized that criminals will not be able to hide their illegally acquired funds. "Whether you hide them in real estate, cryptocurrency, or cash, we will track them down and take them, leaving you with nothing," he declared.
Results of Operation Kraken
So far, Operation Kraken has led to 46 arrests, 93 search warrants, and the seizure of $2.37 million in cash, along with various weapons.
What are your thoughts on the success of the Australian Federal Police in seizing #illegal cryptocurrency? Share your opinions in the comments.

#CryptoLaw , #cryptocrime , #cryptoregulation , #CryptoCrackdown

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The Irish Minister of Finance plans to act quickly before the European Union implements strict anti-money laundering regulations.
Swift Legislative Action Ahead of EU Rules
Ireland is preparing to introduce "urgent" legislation concerning cryptocurrencies ahead of the new European Union standards focused on combating money laundering and terrorist financing. Irish Minister of Finance Jack Chambers informed the government that prompt action is required to update existing cryptocurrency regulations before the new EU laws take effect on December 30. The Irish Examiner reported this on October 16.
No specific details about the new legislation or its potential implementation date have been shared yet.
Strengthening Powers and Stricter Requirements for Exchanges
The new "EU Anti-Money Laundering and Terrorist Financing Law" will enhance the powers of financial intelligence units, allowing them to suspend suspicious transactions. It will also impose stricter reporting requirements on crypto exchanges, which must comply with more rigorous rules. The legislation introduces a €10,000 limit on cash payments and tighter monitoring of large transactions, including those of high value.
This legislative framework covers several areas that pose risks, such as crypto-assets and crowdfunding, and complements other regulations, such as the Markets in Crypto-Assets Regulation (MiCA).
MiCA and Ireland’s Role in Innovation
In September, Derville Rowland, Deputy Governor of the Central Bank of Ireland, stated that Ireland aims to play a key role in fostering safe innovations through MiCA. She emphasized that proper crypto regulations are crucial if Europe is to become a global leader in the adaptation and adoption of new technologies.
While MiCA regulations have been in effect since June 2023, Irish authorities are now focused on aligning with anti-money laundering rules and ensuring that the country’s financial system does not become a target for illegal activities.
Role of the Central Bank and Approval of Crypto Service Providers
According to the Central Bank of Ireland, it is essential for Ireland, as a small and open economy with a thriving financial sector, to actively participate in preventing its financial system from being used for money laundering and terrorist financing.
As of July, the Central Bank of Ireland had approved 15 virtual asset service providers, including Gemini, Ripple, Paysafe, MoonPay, and Coinbase, which agreed to remove non-compliant stablecoins from its European platform in line with new regulations.
#cryptoregulation , #Ireland , #worldnews , #Bitcoin❗ , #CryptoLaw

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The Ripple Labs class action lawsuit has taken a major turn. The U.S. District Court just issued pivotal rulings, setting the stage for a high-stakes jury trial set for January! Recent attempts at settlement failed, meaning both sides will face off with significant implications for XRP's future. Here’s what went down:

📌 Wins for Plaintiffs: The court upheld expert testimonies from Jeremy Clark and Saifedean Ammous, both arguing Ripple’s strong influence over XRP’s ecosystem. Clark claims that XRP distribution has primarily benefited Ripple, an argument that Judge Hamilton allowed despite Ripple's objections.

📌 Ripple’s Defense Setback: Ripple’s attempt to include Alan Schwartz’s testimony on XRP’s status as an investment contract was denied, removing a key part of their defense. However, the exclusion of plaintiff expert Joel Seligman was a small win for Ripple, adding to the legal back-and-forth.

📌 Jury Trial Set – Expert Testimonies in Focus: The trial in January will see expert witnesses from both sides, examining Ripple’s role in XRP’s market value and whether Ripple’s actions influence its price.

And there’s more! Ripple’s separate battle with the SEC continues in the appeals phase, intensifying the legal pressure. January's trial could have lasting effects on the future of XRP and the crypto landscape.

#RippleLabs #XRP #CryptoLaw #SEC #RippleTrial $XRP $BTC

The Ripple Labs class action lawsuit just took a major turn as the U.S. District Court delivered game-changing rulings, setting the stage for a high-stakes jury trial this January! Recent settlement talks failed, pushing both sides to face off in court with big implications for XRP's future. Here's what happened:
📌 Key Wins for Plaintiffs: The court upheld the expert testimonies of Jeremy Clark and Saifedean Ammous, both asserting Ripple’s significant role in XRP’s ecosystem. Clark claims XRP distribution has largely benefited Ripple, an argument that Judge Hamilton allowed despite Ripple's objections.
📌 Ripple’s Defense Hit: Ripple’s bid to present Alan Schwartz’s testimony on XRP's status as an investment contract was denied, removing a key defense strategy. Meanwhile, the exclusion of plaintiff expert Joel Seligman was a minor win for Ripple, keeping the legal playing field dynamic.
📌 Trial Date Set – Conflicting Expert Views Await Jury: In January, the jury will hear opposing takes from both Ripple and plaintiffs on Ripple's influence over XRP's market value, diving into whether Ripple’s actions impact XRP's price.
And it’s not over! Ripple’s separate showdown with the SEC is still on, heading into the appeals phase. The legal storm around Ripple and XRP is intensifying, and January’s trial could shape the future of this digital asset.

The U.S. appeals court ruled that homeowner Ali Sedaghatpour's lawsuit, which sought coverage from Lemonade Insurance for losses due to a crypto scam, was correctly dismissed by the district court.
Claim for Compensation for Cryptocurrency Loss Rejected
Homeowner Ali Sedaghatpour attempted to sue his insurance provider for a $170,000 loss resulting from a crypto scam. However, the appeals court ruled that there was no error in the district court's decision to dismiss the case. The Fourth Circuit Court of Appeals found that Sedaghatpour’s insurance claim was invalid since his policy only covered “direct physical loss” of property.
Lemonade Insurance Not Responsible for Digital Loss
Sedaghatpour argued that personal property insurance should also cover stolen cryptocurrency. This case was one of the few where a crypto user attempted to argue that crypto assets were personal property covered by a homeowners insurance policy.
The court, however, ruled that under Virginia law, “direct physical loss” requires material destruction or damage. Since the digital theft of cryptocurrency does not constitute physical loss, Sedaghatpour could not recover his loss.
Limited Loss Coverage in Insurance Policy
The appeals court noted that Lemonade Insurance’s policy only covered up to $500 for losses from unauthorized use of electronic access devices, but Sedaghatpour’s claimed $170,000 for personal property coverage exceeded this limit.

Case Background
Sedaghatpour sued Lemonade Insurance in March 2022 after transferring $170,000 to a fraudulent entity, APYHarvest, in December 2021, which allegedly exploited his crypto wallet. When he discovered the wallet had been emptied, he accused APYHarvest of stealing his cryptocurrency and filed a lawsuit against Lemonade Insurance for coverage.
Lemonade Insurance's Legal Argument
Lemonade Insurance argued that while a hardware wallet is a tangible object, the data it contains lacks physical properties and cannot be considered a “direct physical loss” of property. Cryptocurrency itself remains an intangible asset, the company added.
Neither Sedaghatpour’s nor Lemonade Insurance’s legal representatives have yet commented on the case.

#Bitcoin❗ , #CryptoLaw , #CryptoNews🚀🔥 , #Digitalasset , #cryptoscams

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