XRP Lawyer John Deaton Reprimands Jay Clayton, Bill Hinman, Gary Gensler

John Deaton, a lawyer representing 75,000 XRP holders, condemned former U.S. SEC officials Jay Clayton, Bill Hinman, and current SEC Chair Gary Gensler for being completely wrong when it comes to regulating the American financial markets. Deaton has several times criticized Jay Clayton and Bill Hillman for being the reason for the Ripple Vs SEC lawsuit.

John Deaton Thrashes SEC Officials

During a Council on Foreign Relations (CFR) event, Jay Clayton talked in favor of crypto and crypto regulation in the US. When asked about bringing clarity regarding crypto regulation, he kept on promoting crypto technology despite bringing the lawsuit against Ripple and its executives Brad Garlinghouse and Chris Larsen during his last days in the U.S. SEC.

Reacting to former U.S. SEC Chair Jay Clayton’s turnaround about crypto technology and the current state of crypto regulation, John Deaton criticized him for his insincerity.

“Clayton, along with Bill Hinman and Gary Gensler represent everything wrong with America’s regulated financial markets. This video of Clayton should even make SEC Commissioner Hester Peirce embarrassed for him, said Deaton.

The crypto community blames them for their lack of accountability, honesty, and fairness. Now, SEC Chair Gary Gensler continues hypocrisy, suing crypto firms and investors.

Ripple CEO Brad Garlinghouse also commented, saying “I’m in disbelief” after hearing comments made by Jay Clayton on the need for favorable regulation for crypto investors and small and medium-sized firms.

Pro-XRP lawyer Bill Morgan also pointed out Clayton wanted to damage XRP as a competitor to Ethereum and Bitcoin. He added that Clayton was involved in the Ethereum free pass speech “that went a long way to the SEC picking a winner, not the market.”

XRP price fell 3% in the past 24 hours, with the price currently trading at $0.60. The 24-hour low and high are $0.644 and $0.635, respectively. However, the trading volume has decreased by 140% in the last 24 hours.

Also Read:

✓ Share:

Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

Advertisement

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.