U.Today - , the lawyer who took on the SEC in defense of XRP holders, has been named Lawyer of the Year by Rhode Island Lawyers Weekly. The award recognizes Deaton's role as amicus counsel in the Ripple Labs case, where the SEC alleged violations of securities laws.
Despite his background as a personal injury attorney, Deaton challenged the SEC's claims and successfully represented over 75,000 holders from 143 countries.
Deaton's involvement began when he saw what he considered government overreach in the SEC's lawsuit against . He filed a writ of mandamus in Rhode Island's U.S. District Court, aiming to limit the liability of individual XRP holders.
Though the court did not accept his initial suggestion, Deaton was appointed as amicus counsel, allowing him to represent the interests of XRP holders.
The case concluded in July when Judge Analisa Torres ruled that XRP itself is not a security, a decision that influenced the relisting of XRP on U.S. exchanges. Deaton, who worked on the case pro bono, expressed satisfaction with the outcome and hinted at potential future involvement in cryptocurrency-related cases.
The Lawyer of the Year award reflects Deaton's unconventional approach and the impact of his work on behalf of XRP holders. His unconventional approach has not only secured a major victory for investors but has also brought attention to the evolving landscape of digital finance and the problems within it.