Recently, there were false reports circulating that the US Securities and Exchange Commission (SEC) had approved BlackRock’s application to launch a spot Bitcoin exchange-traded fund (ETF) in the US. This led to a surge in the price of Bitcoin and excitement in the cryptocurrency sector. However, the SEC quickly clarified that these reports were not true and warned users to only trust verified sources.
John E. Deaton, a US attorney representing thousands of XRP investors in a lawsuit against the SEC, criticized the agency and urged people to trust independent judges instead. He referred to court opinions that have deemed the SEC’s actions inconsistent and accused the agency of being “arbitrary and capricious.” Deaton pointed out that appellate courts have found the SEC’s denial of a spot Bitcoin ETF to be “utter nonsense” and that a federal judge in the SDNY called SEC lawyers hypocrites.
The SEC has been involved in multiple legal battles with cryptocurrency companies, and so far, it has not been very successful. Ripple, in particular, has secured two court victories against the SEC, one in July and another earlier this month. The US Court of Appeals for the DC Circuit also ordered the SEC to “vacate” its intention to reject the conversion of the Grayscale Bitcoin Trust into a spot ETF. Furthermore, the SEC has filed lawsuits against two major cryptocurrency exchanges, Binance and Coinbase, accusing them of violating certain laws and offering Trading services with unregistered securities.
Overall, these incidents highlight the SEC’s controversial actions and inconsistent approach to regulating the cryptocurrency industry. The false reports about BlackRock’s BTC ETF approval and the subsequent clarification by the SEC demonstrate the importance of relying on verified sources for information. John E. Deaton’s criticism of the SEC and his emphasis on trusting independent judges show the lack of confidence in the agency’s decision-making. The SEC’s legal confrontations with Ripple, Grayscale, Binance, and Coinbase also raise questions about the agency’s understanding and handling of the evolving cryptocurrency market.
In conclusion, the recent false reports about the SEC approving BlackRock’s BTC ETF and the agency’s caution against unverified sources highlight the need for accurate information in the cryptocurrency industry. John E. Deaton’s criticism of the SEC and the agency’s legal confrontations with various crypto entities further emphasize the challenges and inconsistencies in its regulatory approach. As the cryptocurrency industry continues to grow and evolve, it is crucial for regulators like the SEC to adapt and provide clear and consistent guidelines to foster innovation and protect investors..
#ProRipple #XRP #Lawyer #Bashes #SEC #Fake #BTC #ETF #News
John E. Deaton, a US attorney representing thousands of XRP investors in a lawsuit against the SEC, criticized the agency and urged people to trust independent judges instead. He referred to court opinions that have deemed the SEC’s actions inconsistent and accused the agency of being “arbitrary and capricious.” Deaton pointed out that appellate courts have found the SEC’s denial of a spot Bitcoin ETF to be “utter nonsense” and that a federal judge in the SDNY called SEC lawyers hypocrites.
The SEC has been involved in multiple legal battles with cryptocurrency companies, and so far, it has not been very successful. Ripple, in particular, has secured two court victories against the SEC, one in July and another earlier this month. The US Court of Appeals for the DC Circuit also ordered the SEC to “vacate” its intention to reject the conversion of the Grayscale Bitcoin Trust into a spot ETF. Furthermore, the SEC has filed lawsuits against two major cryptocurrency exchanges, Binance and Coinbase, accusing them of violating certain laws and offering Trading services with unregistered securities.
Overall, these incidents highlight the SEC’s controversial actions and inconsistent approach to regulating the cryptocurrency industry. The false reports about BlackRock’s BTC ETF approval and the subsequent clarification by the SEC demonstrate the importance of relying on verified sources for information. John E. Deaton’s criticism of the SEC and his emphasis on trusting independent judges show the lack of confidence in the agency’s decision-making. The SEC’s legal confrontations with Ripple, Grayscale, Binance, and Coinbase also raise questions about the agency’s understanding and handling of the evolving cryptocurrency market.
In conclusion, the recent false reports about the SEC approving BlackRock’s BTC ETF and the agency’s caution against unverified sources highlight the need for accurate information in the cryptocurrency industry. John E. Deaton’s criticism of the SEC and the agency’s legal confrontations with various crypto entities further emphasize the challenges and inconsistencies in its regulatory approach. As the cryptocurrency industry continues to grow and evolve, it is crucial for regulators like the SEC to adapt and provide clear and consistent guidelines to foster innovation and protect investors..
#ProRipple #XRP #Lawyer #Bashes #SEC #Fake #BTC #ETF #News
