Is the SEC Moving to a Softer Stance on Crypto? Pro-XRP legal opinion

TL; DR

American lawyer John E. Deaton has noticed a potential change in the position of the SEC to the cryptocurrency industry, after not using the news of the recent fake BTC ETF to criticize the sector. In the past, SEC Chairman Gary Gensler has frequently associated crypto with negative activities. Deaton suggests that Gensler's behavior may be influenced by the opinions of mainstream institutions. Although there were rumors that the SEC had increased the price of BlackRock's BTC ETF application, the approval was false. Deaton said he has more faith in the judges overseeing the SEC than in the agency itself.

The SEC seems different

John E Deaton – US attorney representing thousands of Ripple investors in lawsuit against Ripple – It is estimated. The United States Securities and Exchange Commission (SEC) may have changed its stance on the cryptocurrency industry. The premise behind the theory is that the agency did not use the fake BTC ETF news that circulated the site earlier this week as an opportunity to hit the digital asset sector.

Dayton reminded SEC Chairman Gary Gensler that this is not the case in the past, when he criticized crypto and linked it to terrorist financing and criminal activity every time he found the option.

“I could be wrong, but I would attribute the loss of the court to the influence of Larry Fink. Gensler only cares what the major donors think, I mean what the institutions think.

The lawyer's opinion about the SEC's soft approach coincides with that shared by Scott Melker, known as the “Wolf of All Streets.” The latter He argued According to a recent X (Twitter) post, approval of a one-spot Bitcoin ETF is imminent because “the language and tone has changed.”

Dayton's previous response to the SEC

Breaking reports from October 16 that the US securities regulator has finally approved BlackRock's application to introduce a spot BTC ETF in the United States fueled excitement in the crypto space, sending the entire market flashing green. The price of the first-tier digital asset rose more than 10% in minutes to $29,500 (via CoinGecko).

However, the jolly was short-lived due to the lack of such official approval. The SEC also filed, He is saying. People should not believe everything they read on the Internet and verify information with original sources.

Deaton disagreed with the statement, saying the independent judges who oversee the regulator are more credible than the agency. Next, the appeals court said it found the SEC to be “arbitrary and capricious.”

“Finally, a federal judge in SDNU called the SEC attorneys hypocrites and said they lacked integrity for the law. So, when it comes to the SEC, I choose to listen to the judges. And man, they speak loudly.