John Deaton Disapproves of Jim Cramer’s Comments on XRP
John Deaton, a prominent crypto attorney and advocate for XRP, recently expressed his disapproval of comments made by Jim Cramer, a widely recognized financial commentator, about the XRP cryptocurrency. Cramer’s lack of knowledge and assertions about XRP didn’t sit well with Deaton.
XRP’s Transparent History: A Refresher for Cramer
- In 2014, the U.S. Government Accountability Office recognized XRP for its use in Ripple’s decentralized payment system.
- In 2015, the Department of Justice and the Financial Crimes Enforcement Network labeled XRP as a “convertible virtual currency.”
- Ripple was directed to align with U.S. banking guidelines, not securities regulations.
Globally Recognized and Accepted
- In 2019, the Financial Stability Oversight Council’s annual report prominently mentioned XRP alongside major digital currencies like Bitcoin, Ethereum, and Litecoin.
- MoneyGram shared insights with the SEC about their utilization of XRP for international transactions.
- Nations such as the UK, UAE, Singapore, Switzerland, and Japan have recognized XRP as a virtual currency.
Deaton emphasizes that all this information about XRP is readily accessible through a simple Google search. Cramer’s comments are either a hasty oversight or a purposeful misdirection according to Deaton, and he believes Cramer should reflect on his statements.
Hot Take: It is important for commentators like Cramer to thoroughly research and understand cryptocurrencies before making public statements, as their influence can significantly impact investor sentiment and the market.
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