The post John Deaton Sparks Controversy Over SEC’s Interaction with Coinbase appeared first on Coinpedia Fintech News
John Deaton, a renowned attorney with expertise in cryptocurrency and particularly an advocate for XRP, has caused a stir with a series of statements concerning the SEC’s interaction with Coinbase, something that has made many headlines since yesterday.
Deaton’s Dilemma: Fairness and SEC
Deaton’s commentary centers on the perceived incongruities in the SEC’s approach. He reflects on the agency’s approval of Coinbase’s IPO, including the process of Acceleration, only to instruct the company two years later to delist all tokens except Bitcoin.
While acknowledging that approval of the registration filing does not imply a wholesale endorsement of Coinbase’s business model, the lawyer is critical of the inconsistency.
He highlights that the SEC’s senior personnel had publicly lauded Coinbase’s framework for determining token securities before the IPO. T
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