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Former SEC Chair Intentionally Chose To NOT Implement An Era Of Regulatory Clarity: John Deaton

Former SEC Chair Intentionally Chose To NOT Implement An Era Of Regulatory Clarity: John Deaton

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The Crypto Attorney criticized the former chairman of the US Securities and Exchange Commission for his latest proposal to the US SEC on behalf of the crypto space.

Jay Clayton, former chairman of the US Securities and Exchange Commission (SEC), suggested on August 25 that the SEC should work to establish clear regulatory practices for the cryptocurrency market instead of following unclear regulatory policies to defeat China. the race to modernize the world’s financial system.

On August 26, John Deaton, a popular lawyer in the crypto space, took to Twitter to criticize the former SEC chairman’s statement.

Deaton tweeted that Deaton favored only vague regulatory policies when he was in power at the SEC and even then he was not crypto-friendly to push adoption in this industry.

The crypto lawyer claimed that Clayton is now working as an advisor to companies dealing with uncertain regulatory policies, so in this way he is taking advantage of uncertain regulatory policies that he himself initiated.

“Now you are applying for jobs as an advisor who helps companies cope with uncertainty. It seems like you are profiting from the lack of clarity you helped create.

Earlier, on August 24th, Deaton talked about the SEC’s blind regulatory policies causing problems for the crypto sector, such as Ripple vs SEC Lawsuit.

Current SEC Chairman vs. Cryptospace

Currently, Gary Gensler is the chairman of the SEC and is known as the government’s biggest critic of the crypto industry.

However, Gary never said that they will ban Bitcoin or crypto, but many times he hinted in his statements that the agency will not give this innovative industry more room to develop.

Also read: AntPool decides not to maintain accounts with ETH on the POS chain



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