Crypto lawyer John Deaton has slammed the lack of transparency in the regulation of cryptocurrencies by former U.S. Securities and Exchange Commission (SEC) Chairman Jay Clayto for an article in the Wall Street Journal discussing cryptocurrency regulation.
In the article, Clayto stated that the U.S. should strive to establish regulatory transparency in the crypto space and take the lead in modernizing the global financial infrastructure.
Deaton said that Clayto’s behavior when he was chairman of the SEC went against it, arguing that Clayto deliberately created regulatory confusion and seriously affected XRP. Previously, the SEC filed a lawsuit against Ripple in December 2020.
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