• John Deaton, a crypto-savvy lawyer, critized both the Security and Exchange Commission (SEC) and the crypto exchanges they have targeted in recent lawsuits.
• Deaton seeks to represent the real voice of crypto investors and argues that SEC is far from protecting their interests.
• Drawing parallels with his involvement in the Ripple case, Deaton emphasizes his commitment to standing up for retail crypto holders against agencies that fail to act in their best interests.
Crypto Vs SEC: John Deaton’s New Tactic
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 Binance and Coinbase .
SEC Accused of Double Standards
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. 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.
Standing up for Crypto Investors
Drawing parallels with his involvement in the Ripple case , Deaton emphasizes his commitment to standing up for retail crypto holders against agencies that fail to act in their best interests. He explained how he plans to use Amicus Curiae briefs as a means of challenging such decisions by government organizations when he believes them to be unjustified or unlawful.
Amicus Curiae Briefs Explained
An Amicus Curiae brief is a legal document filed by an individual or organization who does not have direct legal standing but wishes to provide additional information or arguments relevant to a court case or administrative proceeding such as those brought on by government agencies including but not limited to those initiated by regulatory bodies like The Securities Exchange Commission (SEC). Typically these filings are issued by individuals or organizations with expertise on topics related to a case but are unaffiliated with any party involved in it directly; hence “friends of court“.
Conclusion
By filing Amicus Curiae briefs John Deaton hopes challenge governmental organizations when he believes them to be unjustified or unlawful while advocating for greater transparency within digital asset regulation frameworks worldwide .