XRP holders’ lawyer, John Deaton, says Jan. 1 marks a pivotal moment of confronting the government’s overreach in the cryptocurrency sector. While most people celebrate the day in most parts of the globe as the start of a new year, Deaton remembers it as the day he filed a case against a top U.S. agency.
John Deaton on Jan. 1 lawsuit against SEC
In a recent update, Deaton explained that it was on Jan. 1, 2021, that he filed a case against the U.S. Securities and Exchange Commission (SEC). Notably, he termed the SEC’s action as a "gross overreach."
The renowned lawyer considers the move as very pivotal to protecting the broader crypto community, not just XRP.
According to him, the Ripple versus SEC legal battle, which later resulted in victory for XRP, is proof that collective action works. Deaton suggests that the regulatory body’s stance was a threat to innovation, but with the help of XRP holders, they were able to get the courts to recognize that crypto assets are not securities.
"We helped shape the law regarding crypto and blockchain technology," he stated.
Deaton considers the Ripple victory as a win for the broader crypto community and a way to guarantee a level playing field for all sorts of innovation, including digital assets.
After reading George Orwell’s 1984 in high school, I decided to always fight government overreach if I could.
Five years ago tonight, I was finishing up my Writ of Mandamus 🆚 the @SECGov for its gross overreach calling #XRP a security in the @Ripple case.
At 1:30 AM on…
As he recalled the fifth anniversary, Deaton believes the Ripple lawsuit has established a legal precedent for utility tokens.
He maintains it has played a notable role in reshaping U.S. crypto law that would guarantee a more innovation-friendly regulatory environment in the country.
Interestingly, the U.S. Congress has passed the GENIUS Act, a legislation meant to protect crypto assets.
At the time it was passed, Deaton hailed it as significant and listed Ripple USD stablecoin (RLUSD), Circle (USDC) and Ethereum (ETH) as immediate winners.
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Ripple legal win aligns with RLUSD growth
Ripple USD stablecoin has shown remarkable growth in its one year of existence since it was launched in December 2024.
Within this time frame, it has jumped into the top 100 crypto assets and currently occupies the 52nd position. RLUSD, with a market capitalization of $1.33 billion, is among the top-performing stablecoins.
Meanwhile, in terms of adoption, Ripple USD stablecoin has hit over 6,710 holders from its earlier 6,500 at the start of December 2025. This signals continued growth for the new entrant into the stablecoin market, dominated by established players like Tether and Circle.
Ripple has leveraged strategic partnerships and expansion into Africa and the Middle East to drive growth of the dollar-pegged asset.
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