SEC faces accusations of contradiction in Coinbase rulemaking dispute
XRP holder’s lawyer, John Deaton, stated that the SEC’s stance in the Coinbase rulemaking dispute directly opposes the SEC Chairman’s statements during his congressional testimony earlier this year.
In the ongoing legal dispute between Coinbase Global Inc. and the U.S. Securities and Exchange Commission (SEC), the XRP holder’s lawyer, John Deaton, has accused the SEC’s top official, Gary Gensler, of ‘gaslighting’ the public and disagreed with his stance on cryptocurrencies.
The development in Coinbase’s rulemaking request occurred when the SEC rejected the trading platform’s petition based on three reasons.
These reasons encompass applying current securities laws to cryptocurrencies, the SEC’s engagement with the crypto securities markets through rulemaking, and the significance of preserving the Commission’s discretion in establishing its rulemaking priorities.
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Author: Amaka Nwaokocha
