Security

<p>The post <a rel="nofollow" href="https://coinpedia.org/news/crypto-vs-sec-john-deatons-new-tactic-using-amicus-curiae-against-the-sec/">Crypto Vs SEC: John Deaton’s New Tactic; Using Amicus Curiae Against the SEC</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>John Deaton, the crypto-savvy lawyer and founder of CryptoLaw US, made a significant announcement on June 9, 2023. Known for his stalwart support of XRP, Deaton has publicly criticized both the Security and Exchange Commission (SEC) and the crypto exchanges they have targeted in recent lawsuits, notably <a href="https://coinpedia.org/exchange/binance-review/">Binance</a> and <a href="https://coinpedia.org/exchange/about-coinbase-exchange/">Coinbase</a>.</p> 
<p>The SEC has lodged allegations against these platforms, claiming to act in the interests of digital asset investors, users, and holders. Deaton argues this is far from the case and seeks to represent the real voice of crypto investors.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">NOTICE:<br><br>As everyone is aware, <a href="https://twitter.com/GaryGensler?ref_src=twsrc%5Etfw">@GaryGensler</a> and the <a href="https://twitter.com/SECGov?ref_src=twsrc%5Etfw">@SECGov</a> sued <a href="https://twitter.com/coinbase?ref_src=twsrc%5Etfw">@coinbase</a> and <a href="https://twitter.com/binance?ref_src=twsrc%5Etfw">@binance</a> <a href="https://twitter.com/BinanceUS?ref_src=twsrc%5Etfw">@BinanceUS</a>. Just like the <a href="https://twitter.com/Ripple?ref_src=twsrc%5Etfw">@Ripple</a> case, the SEC claims that it filed the lawsuits on behalf of digital asset investors, users and holders. The SEC claims it is protecting us.</p>— John E Deaton (@JohnEDeaton1) <a href="https://twitter.com/JohnEDeaton1/status/1666987504354971649?ref_src=twsrc%5Etfw">June 9, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<h2 class="wp-block-heading" id="h-sec-accused-of-double-standards"><strong>SEC Accused of Double Standards</strong></h2> 
<p>Coinbase’s request for IPO Acceleration was previously approved by the SEC, signifying that the listing was in the public’s interest. In a startling about-face, the SEC now asserts that shutting down Coinbase permanently would be beneficial to the public.</p> 
<p>Deaton’s main argument is that the SEC is not defending the best interests of retail crypto holders, suggesting instead that the Commission has its own undisclosed agenda.</p> 
<h2 class="wp-block-heading" id="strong-standing-up-for-crypto-investors-strong"><strong>Standing up for Crypto Investors</strong></h2> 
<p>Drawing parallels with his involvement in the Ripple case, Deaton emphasizes his role is not to defend the companies but the interests of the individual crypto investors and holders. In the Ripple case, Deaton filed an amicus brief, representing over 75,000 XRP holders, arguing that even if Ripple violated securities laws when it sold XRP, the token itself was not a security.</p> 
<p>The advocate has extended a similar approach to the current Coinbase and Binance situations. He launched a Google form to gather a potential class of customers and crypto account holders who use these platforms, aiming to make their voices heard in court.</p> 
<h2 class="wp-block-heading" id="strong-rallying-cry-for-crypto-community-strong"><strong>Rallying Cry for Crypto Community</strong></h2> 
<p>As of July 4, 2023, Deaton’s initiative is gaining momentum, with over 2,331 customers having already expressed interest in joining the potential amicus curiae in the SEC vs. Coinbase lawsuit.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">We have 2,331 customers who have joined to potentially be heard as amici curiae in <a href="https://twitter.com/SECGov?ref_src=twsrc%5Etfw">@SECGov</a> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f19a.png" alt="🆚" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/coinbase?ref_src=twsrc%5Etfw">@coinbase</a>. Again, this isn’t about protecting or defending Coinbase, it’s about speaking up for ourselves and not letting the SEC or Coinbase speak for us. <a href="https://t.co/Udv2swSdjz">https://t.co/Udv2swSdjz</a></p>— John E Deaton (@JohnEDeaton1) <a href="https://twitter.com/JohnEDeaton1/status/1675962573059944449?ref_src=twsrc%5Etfw">July 3, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Deaton reiterated his stance, insisting this move isn’t about defending the actions of Binance or Coinbase. Instead, it’s about allowing the crypto community to speak for themselves rather than having the SEC or the accused companies represent their interests.</p>

Crypto Vs SEC: John Deaton’s New Tactic; Using Amicus Curiae Against the SEC

목차

CoinPedia News

2023년 7월 4일에 게재된 다른 기사

Pepe 2.0’s Price Surge Ignites Investor Frenzy, Nears $100 Million Market Cap

Controversial Proposal to Appoint CZ as LUNC Leader Sparks Backlash

Main Cardano Meme Coin SNEK Unveils Epic July Plans

Bitcoin price predictions for 2023, 2024, and 2025

Bitcoin (BTC) Bull Run Is Just Getting Started, Says Analyst

Details Behind Etherland’s Roadmap

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!