Deaton: The former head of the SEC was against the approval of BTC ETFs

Deaton: The former head of the SEC was against the approval of BTC ETFs

user avatar

by Max Nevskyi

3 years ago


Ripple's lawyer, John Deaton, spoke out about the contradictory actions of former Securities and Exchange Commission (SEC) Chairman Jay Clayton. Previously, Clayton hindered the approval of spot Bitcoin ETFs, but now he expresses support for such funds. Deaton also mentioned a possible collusion between Clayton and the current SEC Chairman Gary Gensler.

The situation around the approval of spot Bitcoin ETFs is heating up, and a decision is expected to be made between January 8-10. Deaton discussed the beginning of the confrontation with the SEC and pointed to collusion between its two heads.

It all started with a publication from the Digital Chamber, where the company's head, Perianne Boring, stated that Clayton previously obstructed the approval of spot Bitcoin ETFs. Boring spoke out about this when Clayton began to support Bitcoin and acknowledged the inevitability of ETF approval. In a recent interview, Clayton admitted that the approval of a spot ETF is inevitable, although he did not specify whether this would happen in January.

Deaton noted that Clayton not only blocked this financial instrument but also influenced Gensler's policy at the SEC. A day before his resignation, Clayton met with Gensler, which led to the latter maintaining a tough policy regarding ETFs. Gensler, previously seen as a proponent of cryptocurrencies, filed a lawsuit against Ripple, calling their XRP coin a security.

After leaving the SEC, Clayton became a consultant in the field of cryptocurrencies, benefiting from the new market along with his team.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

OpenAI Launches New Agentic Browser Feature for ChatGPT Work

chest

OpenAI has launched a new agentic browser feature in ChatGPT Work, allowing the AI to manage tasks on login-protected sites while maintaining session persistence.

user avatarAyman Ben Youssef

Surge in AI-Generated Vulnerabilities Threatens Bitcoin Security

chest

The Bitcoin Red Team reports a surge in AI-assisted vulnerability findings across Bitcoin projects, highlighting the urgency of addressing security flaws.

user avatarTando Nkube

Core Lightning Developers Issue Urgent Warning on Vulnerabilities

chest

Core Lightning developers issue critical warning to node operators about vulnerabilities in AI-generated security reports, urging prompt updates or offline operation to secure payment channels.

user avatarKofi Adjeman

Experts Warn Against Short-Term Predictions for Bitcoin Prices

chest

Experts warn against over-reliance on single-day ETF flows for predicting Bitcoin prices, emphasizing long-term trends.

user avatarNguyen Van Long

Dormant Bitcoin Wallets Come to Life

chest

Six dormant Bitcoin wallets have moved a total of 55,359 BTC, worth approximately $40.15 million, between August 16 and August 26.

user avatarSatoshi Nakamura

SEC Proposes New Rules for Crypto Custody Regulations

chest

The SEC has proposed new rules to modernize crypto custody regulations for investment advisers and companies.

user avatarJesper Sørensen

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.