{"id":234368,"date":"2024-01-23T14:25:29","date_gmt":"2024-01-23T08:55:29","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=234368"},"modified":"2024-01-23T14:25:29","modified_gmt":"2024-01-23T08:55:29","slug":"pro-xrp-lawyer-exposes-secs-money-grab-in-crypto-speech-fallout-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/pro-xrp-lawyer-exposes-secs-money-grab-in-crypto-speech-fallout-crypto-news\/","title":{"rendered":"Pro-XRP Lawyer Exposes SEC’s ‘Money Grab’ In Crypto Speech Fallout – Crypto News"},"content":{"rendered":"

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In a scathing critique of the U.S. Securities and Exchange Commission (SEC), pro-XRP lawyer John Deaton takes to the X platform to denounce what he calls a \u201cpure money grab\u201d in the recent crypto speech. Meanwhile, Deaton\u2019s bold statements question the SEC\u2019s motives, alleging a lack of transparency and highlighting a broader issue of corruption in the regulatory landscape.<\/p>\n

Notably, the post sheds light on a contentious era where conflicts of interest and improprieties seem to be the norm.<\/p>\n

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Pro-XRP Lawyer John Deaton Slams SEC<\/h2>\n

John Deaton has recently made a post on the X platform, which reflects a deep skepticism towards the SEC\u2019s<\/a> actions. In his post, he emphasized that he would have sued SEC the same way it did for Ripple if the case was against Ethereum, Consensys, Ethereum Co-founder and Consensys founder Joseph Lubin, Vitalik Buterin<\/a>, \u201calleging ETH was a security\u201d.<\/p>\n

Meanwhile, he points to a broader context, labeling the current period as the \u201cCorruption Era,\u201d citing instances of alleged corruption involving prominent political figures. In addition, John Deaton contends that this environment enables regulatory officials to provide favorable advantages to those influencing them, with little scrutiny from mainstream media.<\/p>\n

According to Deaton, the Director of Corporation Finance wouldn\u2019t hesitate to provide regulatory advantages to those funding him, even allowing them to contribute to the speech and subsequently work for them. This, he argues, is symptomatic of an era marked by a blatant disregard for conflicts of interest.<\/p>\n

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Also Read: BlackRock Triumphs With $260 Mln Inflow As Grayscale\u2019s Total Outflow Exceeds $3 Bln<\/a><\/strong><\/p>\n

SEC Hearings and the Omission of \u2018Sufficiently Decentralized\u2019 Test<\/h2>\n

John Deaton\u2019s sentiments find resonance in a post shared by renowned crypto lawyer MetaLawMan. The post questions the SEC\u2019s selective omissions during Coinbase and Binance<\/a> hearings, specifically the absence of any mention of Bill Hinman\u2019s creation of the \u201csufficiently decentralized\u201d test. Notably, the post, according to MetaLawMan, implies a lack of transparency and raises concerns about the SEC\u2019s handling of guidance related to crypto token classification.<\/p>\n

During the hearings, the SEC highlighted the benefits of its guidance on analyzing whether crypto tokens are securities but conveniently left out any reference to Bill Hinman\u2019s<\/a> \u201csufficiently decentralized\u201d test, creating an air of inconsistency and potential bias in their regulatory approach.<\/p>\n

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Deaton\u2019s outspoken criticism and MetaLawMan\u2019s pointed observations underline a growing skepticism regarding the SEC\u2019s regulatory practices within the crypto space. As the crypto community grapples with evolving regulations, the need for transparency, fairness, and consistent guidelines becomes increasingly evident. The unfolding narrative raises critical questions about the role of regulatory bodies and their accountability in shaping the future of the cryptocurrency industry.<\/p>\n

Also Read: Shiba Inu Burn Rate Spikes 400% Amid 4 Tln SHIB Whale Activity<\/a><\/strong><\/p>\n

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Rupam, a seasoned professional with 3 years in the financial market, has honed his skills as a meticulous research analyst and insightful journalist. He finds joy in exploring the dynamic nuances of the financial landscape. Currently working as a sub-editor at Coingape, Rupam’s expertise goes beyond conventional boundaries. His contributions encompass breaking stories, delving into AI-related developments, providing real-time crypto market updates, and presenting insightful economic news. Rupam’s journey is marked by a passion for unraveling the intricacies of finance and delivering impactful stories that resonate with a diverse audience. <\/p>\n<\/p><\/div>\n

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

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In a scathing critique of the U.S. Securities and Exchange Commission (SEC), pro-XRP lawyer John Deaton takes to the X platform to denounce what he calls a \u201cpure money grab\u201d in the recent crypto speech. Meanwhile, Deaton\u2019s bold statements question the SEC\u2019s motives, alleging a lack of transparency and highlighting a broader issue of corruption […]<\/p>\n","protected":false},"author":2,"featured_media":234369,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-234368","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/234368","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=234368"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/234368\/revisions"}],"predecessor-version":[{"id":234371,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/234368\/revisions\/234371"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/234369"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=234368"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=234368"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=234368"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}