US SEC Staff Oppose Gary Gensler Crypto Outlook; Good Sign For XRP Lawsuit?

XRP Lawsuit News: U.S. Securities and Exchange Commission (SEC) chair, Gary Gensler is receiving heavy backlash over its probes launched against the crypto firm lately. However, Attorney John Deaton, who is presenting XRP holders’ in the US SEC vs Ripple lawsuit made some huge claims against Gensler’s active litigation.

XRP Lawyer’s Big Claims Against SEC

Eleanor Terrett, Journalist at Fox Business, reported US SEC’s latest statement about its digital asset enforcement cases. It stated that the agency is actively raising litigations that involve the applications of securities laws to digital assets.

It added that its enforcement division has proven to be successful so far and the commission is looking forward to the pending court decisions around the crypto assets.

To this John Deaton, Amicus Curiae in the XRP lawsuit claimed that he is been in talks with a couple of crypto firms that are facing active litigation with the US SEC. However, the commission’s staff lawyers do not want to litigate all of these lawsuits. Read More XRP Lawsuit News Here…

He further claims that many of the staff lawyers disagree with Gary Gensler’s outlook toward the crypto industry. They believe that the resources are limited and extended in a way.

Coingape reported that the US SEC Chair went on to claim that all other crypto assets other than Bitcoin (BTC) are a “Security”.

Ripple Lawyer Goes After Gensler

However, Ripple’s Chief Lawyer commented on this statement. He stated that Gensler again proclaimed that every other crypto asset except Bitcoin is seen as an unregulated security. US SEC Chair should now recuse himself from forming any decision on any enforcement case that revolves around security laws.

XRP holders’ lawyer went to rejected narrative built by the US SEC Chair and rejoiced by the Bitcoin maximalists.