{"id":176304,"date":"2023-10-18T08:07:11","date_gmt":"2023-10-18T02:37:11","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=176304"},"modified":"2023-10-18T08:07:11","modified_gmt":"2023-10-18T02:37:11","slug":"pro-ripple-xrp-lawyer-bashes-the-sec-after-fake-btc-etf-news-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/pro-ripple-xrp-lawyer-bashes-the-sec-after-fake-btc-etf-news-crypto-news\/","title":{"rendered":"Pro-Ripple (XRP) Lawyer Bashes the SEC After Fake BTC ETF News &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><span data-preserver-spaces=\"true\"><strong>TL;DR<\/strong><br \/><\/span><\/p>\n<ul>\n<li>False reports claimed the SEC approved BlackRock\u2019s BTC ETF, but the SEC cautioned against unverified sources.<\/li>\n<li>US attorney John E. Deaton criticized the SEC, referencing court opinions that have deemed the agency\u2019s actions inconsistent.<\/li>\n<li>The SEC has had multiple legal confrontations with crypto entities, including losses to Ripple and Grayscale and lawsuits against Binance and Coinbase.<\/li>\n<\/ul>\n<h2><span data-preserver-spaces=\"true\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2023\/10\/JohnDeatonSEC.jpg\" data-wpel-link=\"internal\"><\/a><\/span><\/h2>\n<h2>The SEC is \u2018Arbitrary and Capricious\u2019<\/h2>\n<p><span data-preserver-spaces=\"true\">The breaking reports from yesterday (October 16), which\u00a0<\/span><a rel=\"nofollow noopener\" target=\"_blank\" class=\"editor-rtfLink\" href=\"https:\/\/cryptopotato.com\/btc-skyrockets-to-30k-on-reports-about-approved-spot-bitcoin-etf-by-the-sec\/\" data-wpel-link=\"internal\"><span data-preserver-spaces=\"true\">indicated<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0that the US Securities and Exchange Commission (SEC) has said \u201cyes\u201d to BlackRock\u2019s application to launch a spot BTC ETF in America, triggered a price rally for the primary cryptocurrency and overall excitement in the entire sector.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">However, the jolly was short-lived, with the news turning out to be fake. The regulator chipped in, <\/span><a rel=\"nofollow noopener\" target=\"_blank\" class=\"editor-rtfLink\" href=\"https:\/\/twitter.com\/SECGov\/status\/1714020932509982771\" data-wpel-link=\"external\"><span data-preserver-spaces=\"true\">warning<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0X (Twitter) users to only believe in verified sources and not everything they read on the Internet.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">John E. Deaton \u2013 a US attorney representing thousands of XRP investors in the lawsuit against the SEC \u2013\u00a0<\/span><a rel=\"nofollow noopener\" target=\"_blank\" class=\"editor-rtfLink\" href=\"https:\/\/twitter.com\/JohnEDeaton1\/status\/1714036306257297650\" data-wpel-link=\"external\"><span data-preserver-spaces=\"true\">disagreed<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0with the aforementioned statement, saying people should trust independent judges who oversee the watchdog, not the agency itself.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">He claimed that an Appellate Court found the SEC to be \u201carbitrary and capricious.\u201d According to him, the magistrates have also unanimously concluded that the regulator\u2019s denial to approve a spot BTC ETF was \u201cutter nonsense.\u201d\u00a0<\/span><\/p>\n<blockquote>\n<p><span data-preserver-spaces=\"true\">\u201cFinally, a federal judge in the SDNY called the SEC lawyers hypocrites and stated they lacked faithful allegiance to the law. So, when it comes to the SEC, I choose to listen to judges. And man, are they speaking loudly,\u201d Deaton concluded.<\/span><\/p>\n<\/blockquote>\n<h2><span data-preserver-spaces=\"true\">SEC vs. Crypto Firms<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">America\u2019s securities regulator has launched several legal battles with various cryptocurrency companies, and so far, it has been on the losing side.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Recall that Ripple\u00a0<\/span><a rel=\"nofollow noopener\" target=\"_blank\" class=\"editor-rtfLink\" href=\"https:\/\/cryptopotato.com\/xrp-price-explodes-16-as-judge-rules-in-favor-of-ripple-in-sec-case\/\" data-wpel-link=\"internal\"><span data-preserver-spaces=\"true\">secured<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0two court wins in a row against the SEC: one in July and one earlier this month. Grayscale also managed to prevail after the US Court of Appeals for the DC Circuit\u00a0<\/span><a rel=\"nofollow noopener\" target=\"_blank\" class=\"editor-rtfLink\" href=\"https:\/\/cryptopotato.com\/btc-explodes-1k-as-us-court-rules-in-favor-of-grayscale-in-bitcoin-etf-case-against-sec\/\" data-wpel-link=\"internal\"><span data-preserver-spaces=\"true\">ordered<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0the Commission to \u201cvacate\u201d its intention to reject the conversion of the Grayscale Bitcoin Trust into a spot ETF that tracks the performance of BTC.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">In addition, the SEC\u00a0<\/span><a rel=\"nofollow noopener\" target=\"_blank\" class=\"editor-rtfLink\" href=\"https:\/\/cryptopotato.com\/us-sec-files-a-lawsuit-against-coinbase-day-after-suing-binance\/\" data-wpel-link=\"internal\"><span data-preserver-spaces=\"true\">sued<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0two of the biggest cryptocurrency exchanges \u2013 Binance and Coinbase \u2013 in June, accusing them of breaching certain laws and offering trading services with alleged unregistered securities such as BNB, SOL, MATIC, ADA, and others. Readers willing to learn more about those lawsuits can take a look at our video below:<\/span><\/p>\n<p><iframe loading=\"lazy\" title=\"Is Crypto in Danger? SEC Sues Both Binance and Coinbase!\" width=\"740\" height=\"416\" src=\"https:\/\/www.youtube.com\/embed\/-pb-B6A7V9I?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe><\/p>\n<div class=\"code-block code-block-12\" style=\"margin: 8px 0;clear: both\">\n<div><span style=\"font-size:11px;color: gray\">SPECIAL OFFER (Sponsored)<\/span><br \/>\n<b>Binance Free $100 (Exclusive): <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptopotato.com\/pl\/binancebanner\" data-wpel-link=\"internal\">Use this link<\/a> to register and receive $100 free and 10% off fees on Binance Futures first month<\/b> (<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptopotato.com\/buy-bitcoin-5-easy-steps\/\" data-wpel-link=\"internal\">terms<\/a>).<\/p>\n<p><b>PrimeXBT Special Offer: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptopotato.com\/pl\/primexbt2\" data-wpel-link=\"internal\">Use this link<\/a> to register &amp; enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.<\/b><\/p>\n<\/div>\n<\/div>\n<p><!-- AI CONTENT END 1 --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>TL;DR False reports claimed the SEC approved BlackRock\u2019s BTC ETF, but the SEC cautioned against unverified sources. US attorney John E. Deaton criticized the SEC, referencing court opinions that have deemed the agency\u2019s actions inconsistent. The SEC has had multiple legal confrontations with crypto entities, including losses to Ripple and Grayscale and lawsuits against Binance [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":176305,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-176304","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176304","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=176304"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176304\/revisions"}],"predecessor-version":[{"id":176307,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176304\/revisions\/176307"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/176305"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=176304"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=176304"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=176304"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}