Pro-XRP Lawyer Exposes Genslers Double Standards: Meeting FTXs SBF While Shunning Ripples Leadership
The post Pro-XRP Lawyer Exposes Genslers Double Standards: Meeting FTXs SBF While Shunning Ripples Leadership appeared first on Coinpedia Fintech News
John Deaton, Managing Partner at Deaton Law Firm and a candidate for the Massachusetts Senate, recently shared his thoughts on SEC Chair Gary Genslers comments about cryptocurrency regulation. In a previous interview, Gensler had stated that enforcement actions against crypto leaders, including Sam Bankman-Fried, are necessary to build trust in the sector and protect investors.
In an interview with David Lin, Deaton disagreed with Genslers approach. He pointed out that prominent figures like Mark Cuban and Anthony Scaramucci have criticized Gensler, calling him a bad actor and a bad-faith regulator. Deaton said that Gensler has avoided meetings with key industry leaders while having secret discussions with Bankman-Fried, which raises questions about his transparency.
This is a guy who refused to meet with Brian Armstrong or Brad Garlinghouse or Jesse Powell while he was secretly meeting with SBF several times, and hes never been questioned. He hasnt released the notes of that. Im someone whos been arguing for smart, tailored regulations of crypto. I am not an anti-regulation guy when it comes to crypto. I think regulation and regulatory clarity are what have held Bitcoin and crypto back, he said.
Deatons Desire for Crypto Reset
While Deaton is not against regulation, he advocates for more sensible and modern rules for the crypto space. He believes that outdated laws from the 1930s are being applied to todays technology, such as blockchain and artificial intelligence, creating confusion and driving people to seek opportunities in less regulated environments.
Deaton expressed hope for change, mentioning that both Vice President Kamala Harris and Donald Trump have signaled a desire for a crypto reset in the U.S. He supports the idea of adopting new technologies rather than banning them.
Text source: Coinpedia – Fintech & Cryptocurreny News Media| Cr
