• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M
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

2 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.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

David Schwartz Addresses XRP Ledger Transaction Control Speculation

chest

David Schwartz clarifies that valid transactions on the XRP Ledger cannot be blocked unless users agree to change the validity rules.

user avatarMaria Fernandez

UK Gambling Commission's Crypto Payment Review Linked to FCA's New Framework

chest

The UK Gambling Commission's potential move to allow cryptocurrency payments at licensed gambling venues is linked to the FCA's new oversight framework for cryptocurrencies.

user avatarGustavo Mendoza

UK Gambling Commission Explores Cryptocurrency Payments Amid Illegal Gambling Concerns

chest

The UK Gambling Commission is exploring the possibility of allowing cryptocurrency as a payment method for licensed online gambling platforms due to rising illegal gambling activities.

user avatarRajesh Kumar

Apple's Strategic Advantage in AI Amidst Market Challenges

chest

Jim Cramer highlights Apple's strategic advantage in the AI sector through its Google Gemini deal, despite concerns over stock performance.

user avatarMiguel Rodriguez

Stablecoins Expected to Gain Momentum in Mainstream Payments

chest

Stablecoins are increasingly viewed as a disruptive force in global payments, with significant growth projected.

user avatarLuis Flores

Bitcoin Price Analysis Predicts Bottom Before Next Halving

chest

Crypto analyst Blockchainedbb forecasts a potential price bottom for Bitcoin in late Q4 2024, based on historical halving cycles.

user avatarArif Mukhtar

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.