TL;DR
- US attorney John E Deaton noticed a potential shift in the SEC’s stance towards the cryptocurrency industry, especially after not leveraging the recent fake BTC ETF news to criticize the sector.
- Previously, SEC’s Chairman Gary Gensler frequently associated crypto with negative activities. Deaton suggests Gensler’s behavior may be influenced by major institutions’ opinions.
- Despite a rumor that the SEC approved BlackRock’s BTC ETF application causing a price surge, the approval was false. Deaton expressed more trust in judges overseeing the SEC than in the agency itself.
The SEC Seems Different
John E Deaton – a US attorney representing thousands of Ripple investors in the lawsuit against Ripple – assumed that the United States Securities and Exchange Commission (SEC) might have changed its stance towards the cryptocurrency industry. He based his theory on the fact that the agency did not use the fake BTC ETF news that circulated the space earlier this week as an opportunity to bash the digital asset sector.
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