Pro-Ripple lawyer: ‘No consensus that everything other than BTC is security’

Attorney John Deaton, a pro-Ripple lawyer, has chastised Michael Saylor for his stance on Bitcoin maxis. Deaton stated that only Gary Gensler and Bitcoin maxis believe that other cryptocurrencies are securities. Attorney John Deaton, a pro-Ripple lawyer, has chastised Michael Saylor, the chairman of business intelligence firm MicroStrategy Incorporated, for his stance on Bitcoin [BTC] […]

SEC Chairman Gary Gensler stated in a recent interview with The New York Times that with the exception of Bitcoin, he considered all digital currencies to be securities.“Consensus is building that everything in the #Crypto industry other than #Bitcoin is a security, destined to be regulated by the @SECGov. This makes $BTC the only crypto-asset suitable for use as global money.”In response, John Deaton stated that the talk of consensus is false.

Deaton went on to say that, despite Saylor’s reputation, what he was saying was completely incorrect.The lawyer found it difficult to blame Saylor. He explained that “the narrative” drove money away from alternative coins and into Bitcoin.claims that some cryptocurrencies, such as XRP, are sold as unregistered securities. The cryptocurrency supporter has earned a reputation as one of the most responsive legal minds.

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