Gary Gensler Bisa Inikan Pasar Kripto Jatuh 50 Persen Lagi, Kata Pengacara XRP John Deaton

SEC chairman Gary Gensler. (Photo; Doc. Digital Coin Buzz)

JAKARTA One of the lawyers and XRP supporters, John Deaton, shared his views on the attitude and actions of the chairman of the US Securities and Exchange Commission (SEC), Gary Gensler. According to Deaton, Gensler has the potential to cause another 50 percent crypto market to fall.

According to DailyHodl, Deaton expressed his opinion on Twitter that he first argued six months ago, assessing Gensler may be demanding a leading crypto exchange.

"I even believe more today because it could cause another 50% crash. Then the incumbent took a bigger part," said Deaton.

Deaton said Gensler had come after crypto for two years, pointing to the fact that the SEC nearly doubled the size of the Crypto Asset of the Enforcement Division and Cyber Unit under his leadership.

Deaton claims the SEC is the second largest creditor of a bankrupt BlockFi crypto lending platform, although bankruptcy filings actually suggest regulators are BlockFi's fourth-largest creditors. The SEC has a 30 million US dollar unsecured claim against the crypto lending company.

"That fact alone talks a lot about intentions. Ask yourself what registration requirements are applied with BlockFi settlements worth 100 million US dollars? How does that improve industrial practice?", said Deaton.

Lawyers have played an active role in the ongoing SEC lawsuit against San Francisco-based cross-border payment company Ripple. Deaton has filed an amicus briefing on behalf of XRP supporters who oppose regulatory motion for summary assessment in the case.

Additional information, the SEC sued Ripple by the end of 2020. The US regulator accused Ripple of selling unregistered securities. The SEC also considered that XRP was a security.

Meanwhile, Ripple denied the allegations and uncovered the collusion that took place between SEC officials and other crypto companies. In 2018, SEC official William Hinman stated in his speech that ETH was not a security.