Pro-XRP lawyer, John Deaton, has said that the actions taken by the United States Securities and Exchange Commission (SEC) against the crypto industry are driven by a broader motive to safeguard corporate capitalism rather than prioritizing the protection of investors.
Deaton highlighted what he views as an assault on cryptocurrencies, particularly in relation to the SEC’s actions targeting Coinbase (NASDAQ:COIN) and Ripple. In his remarks, he touched on several aspects, such as the accredited investor rules, the SEC’s approach to regulating cryptocurrencies and its position concerning retail investors in the Ripple case.