"The SEC has always liked to fight with crypto, since then the crypto market has been in trouble."
The lawyer of Ripple (XRP) holder, John Deaton claims that the Securities and Exchange Commission (SEC) of the United States (US) is going to eliminate the cryptocurrency market due to the fact that they often intentionally file cases against crypto companies without solid evidence.
This follows because the SEC always considers every distribution of LBC tokens founded by the blockchain-based payment company, LBRY as a sale, comments General Counsel at Delphi Labs Gabriel Shapiro.
He added that the SEC has equalized the current LBC spot price through the production of distribution interest with the profit earned.
Following the SEC's aggressive approach to the crypto market, Deaton slammed the SEC in the XRP lawsuit and asserted that all of the XRP-raised money is already operational.
Deaton also expressed his anger when there were allegations from the SEC that they are "disgorgement", a company that generates profits through fraudulent methods.
In the meantime, Deaton resubmitted the summary judgment between the SEC and KiK, a digital currency that facilitates micro-transactions on follow-up applications that the SEC believes will slowly wipe out the crypto market.
As of this writing, XRP price has retreated to the $0.34 zone after reaching its previous high of $0.39.
