US Crypto Attorney Says The SEC Harmed a Lot of Innocent People


John Deaton once again reminded the crypto sector how the top American financial regulator harmed a huge number of people in this innovative sector.

John Deaton is a popular crypto attorney in the US. He is the founder of the CryptoLaw firm & remains active in crypto-related legal conflicts to share the potential outcomes on behalf of the situation. Since Dec 2020, Deaton shared every detailed information & facts related to the XRP lawsuit and also helped to bring 75k XRP Investors in the XRP lawsuit to defend Ripple Labs against arguments imposed by the Securities and Exchange Commission (SEC).

On 28 Sep 2023, John Deaton responded to a news article on the SEC’s blind enforcement action in the XRP lawsuit, published by RealClearPolicy (RPC).

Deaton said that the US SEC harmed huge numbers of people through the XRP lawsuit process e.g. users, developers, and small businesses who were depending on XRP coin for the last 3 years.

SEC vs Crypto

The US SEC is known for its highly crypto hater stance and in July of this year SEC lost in the XRP lawsuit, as the court judge ruled in favor of Ripple, but still, this financial regulator is not in the mood to accept the court decision & decided to expand the case, to get results in self favor.

Alongside Ripple, the SEC is also fighting against Coinbase & BinanceUS. 

Recently stablecoin issuer Circle and crypto venture company Paradigm submitted an amicus brief separately to oppose SEC’s arguments & defend BinanceUS exchange.

XRP coin price action

The current trade price of XRP coin is $0.516 & this trade price is 1.45% higher over the last 7 days of trade price. 

US Crypto Attorney Says The SEC Harmed a Lot of Innocent People 1

Read also: Two major companies jump in the SEC vs. Binance case to defend Binance