Breaking: SEC Ethics Under Fire
Pro-XRP lawyer John E. Deaton has unleashed a blistering critique of the Securities and Exchange Commission’s legal team, exposing what he claims is a systematic pattern of unethical conduct that threatens the integrity of crypto regulation. The revelations, shared on March 17, paint a disturbing picture of alleged misconduct within one of America’s most powerful regulatory bodies.
Unprecedented Court Sanctions
In a remarkable development, Deaton highlighted multiple court rulings that found the SEC’s actions “arbitrary and capricious” – a legal standard that’s notoriously difficult to meet. Even more shocking, federal judges have labeled SEC attorneys as “hypocrites” who demonstrated a lack of “good faith” in their proceedings.
Key findings include:
- Multiple court sanctions against SEC attorneys for alleged fraud
- Systematic targeting of smaller crypto projects like LBRY
- Evidence of threats to bankrupt legitimate crypto businesses
- Pattern of misconduct extending beyond individual cases
Industry-Wide Impact
The revelations come amid a significant power shift in Washington, with new SEC Chair Mark Uyeda halting numerous enforcement actions against major crypto firms. This development aligns with recent XRP price movements, suggesting potential market implications of regulatory changes.
Market Response
The crypto market has responded positively to these developments, with XRP trading at $2.30 at press time. Industry experts suggest this regulatory shift could herald a new era of crypto-friendly oversight, potentially driving further market growth.
Source: Bitcoinist