Stop Protecting American Public, Pro-XRP Attorney Tells SEC Chair

Crypto lawyer John Deaton has urged SEC Chair Gary Gensler to stop the regulatory body’s aggressive action against crypto companies and withdraw its regulatory measures. The US has heightened tensions in the crypto industry through unclear regulations and by indicting several crypto entities, such as Ripple (XRP), Bittrex, and Coinbase. Deaton stated that the SEC needs to stop protecting the American public from alleged security violations and should shift its approach to one of innovation.

The renowned pro-XRP attorney highlighted the SEC’s actions towards Coinbase for failing to register as an exchange was an attempt to protect the American public, however, it is not the role of a regulator to protect from security violations or alleged violations.

“Stop protecting the American public by trying to impose impossible compliance standards aimed at preventing security violations or alleged security violations. Because, of course, the role of a regulator is not to protect people from securities violations,” wrote Deaton in a tweet.

Robert Wilson
Robert Wilson author

As the overseer of NicheBot's editorial content, I am committed to ensuring that all information published on our website is both accurate and relevant to our readers. My fervent support for the crypto industry has led me to closely monitor the developments within it since 2012, and I have contributed extensively to discussions and debates surrounding the world of Bitcoin.

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