Lawyer Says SEC’s 200 Crypto Enforcement Actions?

XRP Price News: XRP lawyer John Deaton said the political and economic war on crypto is real. He predicted that there might not be legislation for crypto in the United States until late 2025. Deaton referred Barny Frank’s comments that Signature Bank was targeted due to its links with the crypto companies. More clarity will eventually come from fighting in the courts, he said. The lawyer also referred to the recent court arguments in the Grayscale Vs SEC case, in which the Judge questioned the regulator’s intent behind disapproving the company’s spot Bitcoin ETF application.

Also Read: OpenAI Launches Next Gen AI Model GPT-4; Calls It The Most Advanced System Till Date

Meanwhile, reports suggested that the much anticipated summary judgement in the Ripple lawsuit against the U.S. Securities and Exchange Commission (SEC) could be out in the next few weeks. Stakes are high around this case as the judgement could have a long term impact on the future of crypto market.

Ripple Vs SEC Case To Supreme Court

Professor J.W. Verret of the Scalia School of Law at George Mason University, who was in conversation with Deaton, said the Amicus Briefs in the Ripple case will be highly essential if the case heads to the Supreme Court. The XRP lawyer said he heard rumors about the SEC’s plans to take up 200 enforcement actions on the crypto market in the next two years. This rumor comes in the context of recent enforcement actions on stablecoin operations and crypto staking services in the US. He opined that the SEC’s agenda is to crush crypto and to allow incumbents to come in and get a bigger slice of the infrastructure and retail.

Also Read: Coinbase And Other Crypto Stocks Surge As Bitcoin’s Price Zooms Past $26K

Meanwhile, the XRP price has been rising in the last few days as cryptocurrencies went bullish with the bank stock rout in the US.

Anvesh reports major developments around crypto adoption and trading opportunities. Having been associated with the industry since 2016, he is now a strong advocate of decentralized technologies. Anvesh is currently based in India. Reach out to him at [email protected]

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.