Attorney John Deaton Calls for Accountability in Regulatory Bodies
At the recent onXDC Live blockchain conference, attorney John Deaton emphasized the need for accountability within regulatory bodies in the crypto industry. He specifically highlighted the importance of holding both current and former figures in these bodies responsible for their actions. Deaton believes that accountability is crucial for maintaining fairness and consistency in regulatory decisions. Here are the key points from his speech:
- Gary Gensler and the SEC should be held accountable for their actions.
- Previous SEC chairman, Jay Clayton, should also be held responsible for missed opportunities, such as the “Safe Harbor” proposal for cryptocurrencies.
- While former SEC official William Hinman might be shielded from SEC repercussions due to the statute of limitations, he could still face civil lawsuits.
- The Ripple case is complex, and the outcome could be influenced by how the SEC views other cryptocurrencies, particularly in the Coinbase case.
- Deaton emphasizes the urgent need for regulatory clarity to prevent the crypto industry from moving offshore.
Hot Take: John Deaton’s call for accountability in regulatory bodies reflects the concerns of many crypto enthusiasts. The industry needs clear guidelines and regulations to thrive while ensuring fairness and protecting investors. Holding both current and former figures responsible for their actions is essential for building trust and stability in the crypto space.
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