Pro-XRP Lawyer Wants Anti-Crypto SEC Chair Investigated, Here’s Why
John Deaton stated that he wishes Gary Gensler would be investigated for this most important reason he believes
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The founder of CryptoLaw.US, attorney John Deaton, has taken to Twitter to pour criticism on US securities regulator Gary Gensler.
The SEC, under this person’s board, has recently sued several crypto exchanges and is stuck in an ongoing lawsuit against Ripple Labs started by Gensler’s predecessor Jay Clayton in late December 2020 – on the last day of his job at the regulator. agency.
“I look forward to the day Gensler is investigated”
In a recent tweet, Deaton, who supports Ripple and the XRP token associated with it, stated that he believes Gary Gensler should be investigated in the future. His expectation is based, apart from other arguments, on not pursuing “the crimes of Chinese leaders in the US markets as they attack the crypto space,” according to a tweet that Deaton commented on.
The CryptoLaw founder stated that Gensler is acting in the interest of “a few,” possibly talking about the Wall Street financial elite.
SEC turns a blind eye to Chinese fraudsters, but chases crypto companies
Verified Twitter user Brian Costello tweeted that while the SEC and its chief Gary Gensler are focusing hard on suing crypto companies and declaring cryptos to be securities, this regulator has turned a blind eye to the fraud perpetrated by “a multi-billion dollar Chinese criminal enterprise” and addressed to American investors.
Costello is not disclosing any details in that case. However, he shared that last year an FBI agent related to that case shared in an interview that “he believed there were significant violations and questioned the SEC’s lack of response.”
To Gensler and the SEC, Brian Costello said that by these actions and attacking the crypto space in particular, they are “accelerating the collapse of the dollar.”
The SEC operates Bittrex operations out of the United States
As reported by U.Today earlier, major US-based crypto exchange Bittrex is discontinuing its operations in the US and plans to focus on helping Bittrex Global in its work around the world.
While explaining its exodus from the US market, the exchange cited constant scrutiny and uncertainty from local regulators – mainly the Securities and Exchange Commission.
This regulatory agency also sued Bittrex on Monday this week. SEC Chief Gensler called Bittrex a “securities exchange,” and stated that many altcoins, including DASH, ALGO, and OMG, are securities, since investors have a “reasonable expectation of profit.”
