For now, Gary Gensler is untouchable. He will continue to reign supreme in the offices at 100 F Street, NE Washington DC Especially at lack of solid arguments against his policy. However, the crypto community has never ceased to find a breach in the fortified line of the SEC. Maybe this other initiative by pro-crypto lawyers will eventually succeed?
Paul Grewal does not mince his words
The SEC attacks on crypto exchanges Binance and Coinbase have awakened sleeping geniuses among pro-crypto lawyers. Since the beginning of the story of accusation for violation of securities laws against the second cryptocurrency exchange, Paul Grewal, legal director of Coinbase, has continued to pin the financial policeman.
Already, he supported that the SEC has “ misread the law in a context of regulatory uncertainty for cryptocurrencies.
While researching, Mr. Grewal tweeted new messages that undermined the United States Securities and Exchange Commission.
” I have read, re-read and re-read the Major Issues Doctrine decision in Nebraska, p. 19-26. Replace ‘Secretary’ with ‘Chair’, ‘digital asset’ with ‘student loans’, and you have one conclusion: the SEC’s interpretation of the ‘investment contract’ violates the law. »
And he feels that therelentlessness of the American regulator on other digital assets besides bitcoin would result from his misunderstanding of the meaning of the phrase ” economic and political significance “.
Deaton also went all out
John E. Deaton, the pro-crypto lawyer who came often to the rescue of Ripple, in the case opposing the SEC, has also been busy in recent days. By scrutinizing his tweets daily, the man who proposed a timetable for the publication of the verdict of Judge Torres, did not miss an opportunity to thwart SEC attempts.
His recent Twitter post captured the attention of the crypto community and The Crypto Basic.
” Is Paul Grewal hyperboling that the SEC is breaking the law?
LET’S REVIEW SOME FACTS:
1) Until 2018, the SEC had no policy regarding the possession of crypto by SEC staff because these digital assets were a new asset class and the SEC was unsure about it. »
As you can see, this is just the top part of a long twitter thread published by the pro-crypto lawyer. Going through his arguments, we noticed that the founder of Crypo-Law.us gave an overview of a few historical events.
He recalled that the Senate and the House of Representatives have already proposed a crypto bill. And that Congress has never been against the idea of regulating them. These same institutions also want reduce power in the hands of President Gary Gensler.
” Even the executive order signed by the POTUS seems to favor the CFTC and NOT the SEC “, he underlines. In conclusion, he simply said that Paul Grewal is telling the truth in evoking a violation of the law by this institution.
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