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

Payward Joins Project Glasswing to Boost Cybersecurity Efforts

chest

Payward, the parent company of Kraken, has joined Anthropics Project Glasswing to enhance cybersecurity by utilizing Claude Mythos 5 for identifying security vulnerabilities.

user avatarRajesh Kumar

Nvidia's Stock Shows Resilience Amid Analyst Optimism

chest

Nvidia's stock shows resilience with optimistic analyst ratings despite a minor decline.

user avatarFilippo Romano

Nvidia Announces Major Investment in OpenAI's AI Data Centers

chest

Nvidia plans to invest up to $105 billion to assist OpenAI in developing new AI data centers, securing significant computing capacity.

user avatarLucas Weissmann

Ethereum Developers Propose Changes for Privacy Pools

chest

Ethereum developers are considering proposals for privacy pools to pay their own transaction fees, focusing on Frame Transactions and ForkChoice Enforced Inclusion Lists for the 2027 Hegot upgrade.

user avatarEmily Carter

SpaceX's Historic IPO and Billionaire Backing

chest

SpaceX's IPO in June saw its stock price initially soar but has since faced volatility, with significant investments from billionaires.

user avatarTomas Novak

Strategy Halts Bitcoin Transactions for the Week

chest

Strategy did not engage in any Bitcoin purchases or sales last week, maintaining its holdings at 840,447 BTC.

user avatarKaterina Papadopoulou

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.