XRP Lawyer Calls Out Former SEC Chair Jay Clayton for Unethical Actions
XRP lawyer John Deaton has recently criticized former SEC Chair Jay Clayton, accusing him of prioritizing his personal interests over his regulatory duties. Deaton’s criticism comes in response to Clayton’s recent statement in a September 1 interview with CNBC, where Clayton expressed optimism about the eventual approval of a Bitcoin ETF.
Clayton’s statement indicates his positive outlook on the future of Bitcoin ETFs, although the exact timeline for approval remains uncertain. The SEC has been evaluating various Bitcoin ETF applications, and the delays in decision-making are attributed to the need for thorough assessment of these proposals and their potential impact on the market.
“Bitcoin is clearly not a security. Bitcoin clearly attracts consumers and institutional investors.” – Clayton
In response to Clayton’s comments, Deaton, who is actively engaged on Twitter, has been vocal in his criticism of anti-crypto entities such as the SEC and certain politicians. He specifically focuses on Clayton, stating, “I will never let Jay Clayton off the hook.”
In 2017, Rolling Stone Magazine referred to Clayton as “the Most Conflicted SEC Chair Ever.” Clayton was nominated for the position by former U.S. President Donald Trump.
Exposing the Dark Web of Illicit Activities
In a recent post, Deaton reveals a controversial connection between CSC (Corporation Service Company) and Jay Clayton, which was the subject of much debate during Clayton’s time as SEC Chair. Notably, Clayton’s family has ties to CSC, an agent utilized by numerous firms who list CSC’s address as their official address. This raised concerns about potential misuse and illicit activities, adding to the growing list of U.S. officials associated with illegal actions.
Deaton also highlights how these CSCs have facilitated the creation of shell firms and other questionable vehicles for tax fraud and money laundering. Additionally, CSC obtained China’s first foreign-owned domain registrar license.
Hot Take: Jay Clayton’s Ethical Questions
Deaton’s frustration with Jay Clayton stems from his belief that Clayton prioritizes personal interests over regulatory duties. This critique is based on Deaton’s previous discussions and investigations into Clayton’s connections with WMB Holdings, Delaware Trust, and CSC.
Investors Brace For the Impact
The SEC’s delay in approving spot Bitcoin ETFs has influenced Bitcoin’s price correction, causing it to fall below $26,000. However, positive regulatory news previously led to an 8% surge, although it failed to surpass the $30,000 resistance level. The current price of Bitcoin is $25,840, indicating uncertainty about its future direction.
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