Pro-XRP lawyer John E. Deaton has criticized the United States Securities and Exchange Commission’s (SEC) latest decision on Coinbase’s connection with the bankrupt crypto lender Celsius.

Pro-XRP Lawyer Baffled By SEC’s Decision

Recently, Coinbase presented a restructuring plan to the SEC in which investors from the bankrupt crypto firm Celsius could be reimbursed for their losses through the reimbursement plan but the SEC expressed its objection to the plan.

The regulator raised concerns about the restructuring plan as it believes that it would produce brokerage services to the crypto market. The SEC’s decision might be influenced by the lawsuit the regulator filed against Coinbase back in June 2023.

Pro-XRP lawyer John E. Deaton was one of the people who expressed shock at the SEC’s decision on Coinbase’s role in carrying out the Celsius reimbursement plan. The lawyer took to X to express his displeasure, highlighting that the regulator has become the biggest threat to retail investors.

The post read:

My God, every time I start thinking the SECGov can’t possibly do more to fail as an institution, it proves me naive. The SEC has become the single greatest consistent threat to retail investors.

The lawyer had previously criticized the regulator for its stance on the cryptocurrency sector as he Go to Source to See Full Article
Author: Scott Matherson

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