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.
