John Deaton, a pro-crypto lawyer and legal representative of XRP holders, challenged Keiser's apocalyptic prediction. He countered by highlighting the SEC's prior labeling of Bitcoin as a security. While conceding that the commission could inflict damage on XRP, Deaton believed that the influence of its current transient regulator, Gary Gensler, would be short-lived.
He further argued that software code itself should not be classified as a security, emphasizing the need for a level playing field where the best technologies could thrive.
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