A lack of clarity and vague laws: Pro-XRP lawyer raises accusations against the Sec

Veröffentlicht:

Von:

Titel: Pro-XRP-Anwalt kritisiert die SEC wegen mangelnder Klarheit und vager Gesetze Inmitten der anhaltenden Regulierungsoffensive auf dem Kryptowährungsmarkt hat der bekannte Ripple- und XRP-Befürworter John E. Deaton schwere Vorwürfe gegen die US-amerikanische Börsenaufsichtsbehörde SEC erhoben. Deaton behauptet, dass die Behörde bewusst einen Mangel an Klarheit und vagen Gesetzen bevorzugt. Die Kritik richtet sich insbesondere an den Chef der SEC, Gary Gensler, der Deaton zufolge für die aktuelle Situation verantwortlich ist. Deaton betonte jedoch, dass auch andere Personen auf diesen Missstand hingewiesen haben und behauptet, dass die SEC als Behörde ihren Weg verloren hat. Er äußerte diese Bedenken in einem Tweet …
Title: Pro-XRP lawyer criticizes the SEC due to a lack of clarity and vague laws in the middle of the continuing regulatory offensive on the cryptocurrency market, the well-known Ripple and XRP supporter John E. Deaton has raised serious accusations against the US IPO supervisory authority SEC. Deaton claims that the authority deliberately prefers a lack of clarity and vague laws. The criticism is particularly aimed at the head of the SEC, Gary Gensler, who, according to Deaton, is responsible for the current situation. However, Deaton emphasized that other people also pointed out this grievance and claims that the SEC has lost its way as an authority. He expressed these concerns in a tweet ... (Symbolbild/KNAT)

Title: Pro-XRP lawyer criticizes the SEC for lack of clarity and vague laws

In the middle of the continuing regulatory offensive on the cryptocurrency market, the well-known Ripple and XRP advocate John E. Deaton has levied serious accusations against the US stock exchange supervisory authority SEC. Deaton claims that the authority deliberately prefers a lack of clarity and vague laws.

The criticism is particularly aimed at the head of the SEC, Gary Gensler, who, according to Deaton, is responsible for the current situation. However, Deaton emphasized that other people also pointed out this grievance and claims that the SEC has lost its way as an authority. He expressed these concerns in a tweet on July 4th.

Another point that Deaton appeals is the disagreement within the Sec. As early as 2018, the Pro crypto commissioner Hester Peirce recommended the introduction of a "Safe Harbor" to avoid legal or regulatory liability in certain situations. Nevertheless, the authority decided to ignore these recommendations and maintain the status quo. Peirce is one of the most famous crypto supporters in the US supervisory authorities and has long been calling for clear rules to participate in digital assets without violating the law. It also asked the SEC not to reject the stock market-traded crypto products and describe the commission's resistance to a spot bitcoin ETP as "difficult to understand".

Another example that Deaton gives is the controversial speech by the former Corporate Finance Director of the SEC, William Hinman, who had explained that Ethereum (Eth) was not a securities. This has restricted the future position of the SEC in relation to the second largest cryptocurrency and gave Hinman a "regulatory pass". Deaton sees a further confirmation that the SEC prefers to stay vague to keep their options for action open.

The recent complaints of the SEC against several crypto exchanges have triggered fears from crypto dealers and investors. Many have started to deduct their crypto assets from these platforms. This meant that the amount of Bitcoin on these platforms has reached the lowest of the past five years.

It remains to be seen how the SEC will react to Deaton's allegations. However, the demand for clearer rules and a precise interpretation of crypto laws is getting louder. The cryptocurrency industry needs transparent framework conditions to strengthen the trust of investors and to support the growth in the long term.

Source: Coinphony