Odaily Planet Daily News Pro-XRP lawyer John E. Deaton believes that the testimony of former SEC officials Bill Hinman and Jay Clayton in the SEC v. Ripple Labs case should have classified XRP as a non-securities in the first year of the lawsuit, but the SEC This has been deliberately denied for years.
Deaton argued that Hinman needed to testify, but had no chance to legally subpoena former SEC Chairman Jay Clayton to participate in the trial. He said it was a mistake for the SEC to bring aiding and abetting charges against Garlinghouse, especially given that Clayton wanted to bring charges against the executive personally in a "non-fraudulent" situation.
Deaton added that Clayton was actually an important witness and should testify in court. Following Hinman's presentation, Clayton met with Ripple's CEO and CTO. However, neither Clayton nor Hinman explicitly stated that XRP is classified as a security. Deaton believes that the clarification of the two will undoubtedly save litigation costs. (Coin Gape)