Coin

<ul class="news-points"> 
 <li>Pro-XRP lawyer accuses the SEC of unconstitutional expansion in the crypto market.</li> 
 <li>He supported his argument with historical facts and legislative actions.</li> 
 <li>Lawyer says SEC’s regulatory approach could classify everyday items as securities.</li> 
</ul> 
In a recent tweet, John Deaton, a prominent lawyer advocating for XRP, raised concerns over <a href="https://coinedition.com/fight-the-secs-overreach-tweets-crypto-attorney-deaton/">the alleged unconstitutional overreach</a> of the Securities and Exchange Commission (SEC). 
Deaton specifically addressed a claim by <a href="https://coinedition.com/coinbase-clo-paul-grewal-remains-confident-amid-sec-shenanigans/">Paul Grewal, Coinbase’s Chief Legal Officer</a>, about the SEC violating the law. To support his argument, Deaton presented historical facts and legislative actions that suggest the SEC’s overreach. 
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 Is <a href="https://twitter.com/iampaulgrewal?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">@iampaulgrewal</a> engaging in hyperbole by claiming the SEC is violating the law? LET’S REVIEW A FEW FACTS: 1) up until 2018, the SEC had no policy whatsoever regarding SEC staff owning Crypto because these digital assets were a new asset class and the SEC was unsure about it; <a href="https://t.co/9UU4jzuoZl" target="_blank" rel="nofollow">https://t.co/9UU4jzuoZl</a>— John E Deaton (@JohnEDeaton1) <a href="https://twitter.com/JohnEDeaton1/status/1676352752388063232?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">July 4, 2023</a>
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Deaton highlighted that until 2018, the regulatory body had no policy regarding SEC staff owning crypto. He pointed out that in the infamous 2018 speech by William Hin…
The post <a rel="nofollow" href="https://coinedition.com/deaton-sec-illegal-expansion-can-make-grocery-oranges-securities/">Deaton: SEC Illegal Expansion Can Make Grocery Oranges Securities</a> appeared first on <a rel="nofollow" href="https://coinedition.com">Coin Edition</a>.

Deaton: SEC Illegal Expansion Can Make Grocery Oranges Securities

Coin Edition

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