Prominent lawyer and pro-XRP advocate, John Deaton, has recently weighed in on the ongoing regulatory crackdown against the cryptocurrency industry, specifically about the recent complaint filed by the Securities and Exchange Commission (SEC) against Binance.

Deaton has stated that there are rumors and reports that the United States Department of Justice (DOJ) may file criminal charges against Binance and its CEO, Changpeng Zhao (CZ), in addition to the civil charges already filed by the SEC on Monday for allegedly breaking US securities rules. 

DOJ Rumored To File Criminal Charges Against Binance

Deaton believes that the DOJ may file criminal charges against Binance and CZ due to the recent injunction filed against the exchange by the Commodity Futures Trading Commission CFTC. 

Related Reading: Top Defense Lawyers Rally For Coinbase And Binance In SEC Lawsuits

He also suggests that the SEC’s complaint against Binance is part of a larger effort by SEC Chairman Gary Gensler to claim “litigation dibs” and front-run the DOJ’s potential criminal charges. According to Deaton, Gensler has “ruthless ambition” and the criminal charges would fit the current administration’s narrative against crypto.

Deaton goes on to argue that the ongoing regulatory crackdown against the cryptocurrency industry, including the recent complaints against Binance and Ripple, will be a major issue in the 2024 presidential election. 

Furthermore, he suggests that the current administration’s “war against innovation” and its stance on cryptocurrency will be a key factor in the election, particularly given the growing popularity and mainstream adoption of cryptocurrencies like Bitcoin.

Binance.US Pushes Back Against SEC’s Grandstanding

In the same vein, Binance.US, the US-based subsidiary of the global cryptocurrency exchange Binance, has Go to Source to See Full Article
Author: Ronaldo Marquez

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