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

Name	Symbol	Market	Market Cap ($)	Algorithm
Ripple	XRPUSD	Crypto	30,889,622,200	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ripple

XRPUSD

Crypto

30,889,622,200

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.002	0.37%	0.5459	0.5458	0.5459

Price Change

Price Change %

Current Price

Bid Price

Offer

0.002

0.37%

0.5459

0.5458

0.5459

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.5528	0.5395	0.5438	0.5439	0.382490 - 0.785000

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.5528

0.5395

0.5438

0.5439

0.382490 - 0.785000

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	20:45:53	90.62	0.5459	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

20:45:53

90.62

0.5459

USD

Price x Volume	Volume	Base Symbol	Related Pairs
55,341,417.93	100,469,853.09	XRP	XRPEUR	XRPGBP	XRPBTC

Price x Volume

Volume

Base Symbol

Related Pairs

55,341,417.93

100,469,853.09

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

09/05/2023 8:00pm

NEWSBTC

The pro-XRP Attorney and crypto lawyer John Deaton has told SEC Chair Gary Gensler to retreat his regulatory actions. The attorney demands that the commission stop protecting Americans by lashing on crypto companies. The United States has increased the tension in its crypto industry through unclear regulatory measures. Crypto regulators like the Securities and Exchange Commission (SEC) also affect crypto firms with multiple enforcement actions. Related Reading: Bitcoin To Drop Further? Whales Show Signs Of Dumping Stop Protecting American Public While Harming Crypto Firms, John Deaton In a statement via Twitter in response to Gensler’s post appreciating SEC’s staff for upholding the commission’s mission, Attorney Deaton asked SEC boss Gensler to stop protecting the American public. On behalf of the American public we ask you to please stop protecting us. — John E Deaton (@JohnEDeaton1) May 8, 2023 The SEC has enacted enforcement actions against several crypto entities through its forceful regulatory measures. Some include the Ripple (XRP) blockchain, Paxos (Issuer of BUSD stablecoin), Bittrex, Coinbase, and others. In December 2020, the SEC sued Ripple Labs and some of its executives over the sale of XRP tokens under the Howey Test, stating that the asset passed the definition of an investment contract. Related Reading: Bitcoin Plunge Under $28,000 Only Temporary? This Metric Suggests So Attorney Deaton maintained that XRP is not a security but a digital currency, and the lawsuit has been taking several turns and is still ongoing. The activity of the US SEC on crypto firms in the US has evoked a lot of reactions, especially from top firms such as Coinbase. However, the commission has maintained that its actions are measures to protect Americans. Moreover, in a video, last month, the SEC chair maintained that intermediaries for investment contracts should comply with securities laws and register fully with the SEC. He also said that the law only cares about “what something is and not what you call it” As such, digital asset investment firms that list securities must comply with the investor protection obligations like other firms. SEC Pushing Legal Boundaries With Ripple Lawsuit Crypto lawyer John Deaton mentioned earlier that the SEC is pushing legal boundaries by claiming that Ripple violated securities laws. According to a Bloomberg Law publication, Deaton stated that the SEC’s allegation against XRP is beyond legal contemplation and court rulings on securities. The lawyer mentioned that the US Supreme Court in 1946 defined security in its ruling on SEC v. Howey case. So, the ruling could not account for the complex digital assets with encrypted computer code after almost a century. Featured image from Thinking Crypto and chart from Tradingview

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