Rumors of Impending Criminal Prosecution Surrounding Major Financial Players
After the US SEC sued Binance for violating securities laws, speculations have emerged about a possible DOJ indictment. The recent ruling in the XRP lawsuit, which declared that retail XRP sales are not securities, could potentially impact the SEC’s case against Binance. John Deaton, a prominent figure in the crypto community, has raised concerns about the actions of Mastercard and Visa, suggesting that they may be distancing themselves in anticipation of a criminal prosecution.
Key Points:
- Deaton suspects that major financial players Mastercard and Visa’s distancing themselves could indicate an impending criminal prosecution.
- Speculation and predictions have suggested that a DOJ indictment may follow the recent filings by the CFTC and SEC.
- The Justice Department is reportedly concerned about charging Binance and causing a run on the exchange, similar to what happened with FTX in November 2022.
- There is a rumor that the government may opt for fines or non-prosecution agreements to mitigate the impact on users.
Hot Take: The possibility of a criminal prosecution against major financial players raises questions about the potential impact on the crypto market and investor sentiment. If charges are indeed filed, it could have far-reaching consequences for the industry. Crypto enthusiasts and investors will be closely monitoring any developments in this case.
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