Pro-XRP legal expert John Deaton has criticized the US Securities and Exchange Commission (SEC) for its lack of credibility. Deaton disagreed with the SEC’s statement that it is the best source of information about itself, citing the Commission’s confirmation bias and self-serving statements. He suggested that the SEC’s decision-making may be influenced by its own interests and questioned its objectivity. Deaton also referenced Grayscale’s victory against the SEC, where the court found that the Commission had acted arbitrarily and capriciously in denying Grayscale’s application for a Spot Bitcoin ETF. The lawyer highlighted the court’s view that the SEC’s denial was “utter nonsense” and pointed out the inconsistency in approving Bitcoin futures ETFs while denying a Spot Bitcoin ETF. Deaton emphasized the importance of listening to judges in matters concerning the SEC, particularly as the crypto community looks to the courts for guidance amidst the SEC’s regulatory actions.

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Information	Details
Geography	North America
Countries
Sentiment	negative
Relevance Score	1
People	John Deaton
Companies	ETH Gate, Grayscale, Appellate Court, Cointelegraph, judges, Binance, X, GBTC, SEC, Bitcoin futures ETFs
Currencies	Bitcoin
Securities	None