Attorney John Deaton, the lawyer representing XRP token holders in the U.S. Securities and Exchange Commission (SEC) lawsuit against Ripple, suggested that crypto as a policy issue should be fought in Courts until there is political consensus in the United States. The lawyer said the same in the context of the Senate and House leaders introducing many important crypto bills.
But on the flip side, Coinbase and Binance were charged with violation of securities laws by the US SEC in separate lawsuits which came simultaneously around the first week of June 2023. Coinbase was accused of engaging in an unregistered securities offering through its staking-as-a-service program.
Amid a flurry of digital assets-related bills being introduced in the US legislatures, Deaton explained that there was hardly any chance that the bills would be passed especially with the anti-crypto agenda dominating among the lawmakers.
He said there was zero chance that the bills would be passed when the incumbent party’s biggest and most influential leaders are anti-crypto.