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Attorney Deaton reacts to the labeling of multiple crypto assets as securities by the US SEC. CryptoLaw founder John Deaton has stated in response to the SEC labeling multiple crypto assets as securities. According to the prominent crypto advocate, an asset does not become a security simply because the United States Securities and Exchange Commission says so. “Everyone needs to remember the SEC calling an asset a security does NOT mean it is a security,” said Deaton. https://twitter.com/JohnEDeaton1/status/1667939806955880449 According to Deaton, the SEC previously admitted that only the court could decide whether its theory is valid. He attached a document of SEC’s response to his Writ of Mandamus in the Ripple case, where the commission affirmed that the court would determine the validity of its theory. Deaton highlighted a portion of the document, which read: “Thus, the commission’s enforcement proceeding in the Southern District of New York, brought under the Securities Act, supplies the exclusive method for testing the Commission’s complaint against Ripple.” SEC Labels Over 60 Crypto Assets as Securities The United States Securities and Exchange Commission (SEC) has continued to lay claim as the appropriate regulator for the cryptocurrency industry. Consequently, the SEC has labeled multiple crypto assets security

Deaton Says “SEC Calling an Asset a Security Does NOT Mean It is a Security”

TheCryptoBasic

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