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 Hiding Place 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, hiding places will be stored in your inventory and can be opened with Keys.

Other news

FINMA Approves First Swiss Retail Bitcoin ETF

Switzerland's financial regulator, FINMA, has approved its first retail ETF that invests directly in Bitcoin, allowing retail investors to gain regulated exposure to Bitcoin.

user avatarMaria Gutierrez

EIP7906 Proposal Considered for Enhancing Ethereum Transaction Safety

The Ethereum Foundation is considering EIP7906, which proposes a readonly post-transaction frame to evaluate changes and events before accepting transaction outcomes.

user avatarDavid Robinson

Ethereum Foundation Investigates Enhancements to Transaction Safety

Researchers at the Ethereum Foundation are examining native transaction assertions to enhance transaction safety and reliability in digital asset markets.

user avatarAndrew Smith

Ethereum Developers Delay Glamsterdam Upgrade on Hoodi Testnet

Ethereum developers have postponed the Glamsterdam upgrade initially scheduled for the Hoodi testnet on October 26, with no new activation date provided.

user avatarJacob Williams

Samsung and Solana to Enable Cross-Border USDC Transfers in Samsung Wallet

Samsung and Solana announced plans to integrate cross-border USDC transfers into Samsung Wallet, targeting 82 million US Galaxy devices.

user avatarZainab Kamara

More Americans Have Tried Crypto Than Last Year, But Usage Remains Flat

A recent survey shows that 22% of Americans have tried cryptocurrency, up from 18% last year, but active usage remains flat at 13%. Curiosity drives interest in crypto.

user avatarSon Min-ho

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.