June 4, 2023

Crypto lawyer John Deaton is following the former chairman of the U.S. Securities and Exchange Commission (SEC) over a lack of regulatory transparency in the digital asset industry.

John Deaton called out Jay Clayton after the former SEC chairman wrote an article in The Wall Street Journal about crypto regulation.

In Clayton’s article, he debate The United States should strive to establish clear regulation in the cryptocurrency space and beat China in the race to modernize the global financial infrastructure.

However, Deaton Say When Clayton had the power to chair the SEC, he did the exact opposite.

“Dear Jay Clayton,

You are the chairman, Elad Roisman and Hester Peirce are crypto friendly compared to everyone else (including you). Instead of fostering innovation, you foster an environment of regulatory uncertainty.

Right now, you’re looking for a job as a consultant, helping companies navigate uncertainty. It seems like you benefit from the lack of clarity you help create.

As for your column, “The Particular Challenges of Crypto Regulation,” I guess you failed to meet the challenge. “

Deaton also Say Clayton went to great lengths to perpetuate the regulatory confusion, particularly affecting XRP, which the SEC filed a lawsuit against in December 2020.

Deaton said,

“Jay Clayton deliberately chose not to implement an era of regulatory clarity.”

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