John Deaton, representing thousands of XRP token holders, suggests that the U.S. Department of Justice (DOJ) might investigate cryptocurrency exchange Binance.
In his capacity as an attorney representing thousands of XRP token holders in the Securities and Exchange Commission (SEC) lawsuit, John Deaton predicts that some legal actions might hinder Binance’s development.
He states that too many unusual things have recently happened, and he wouldn’t be surprised if cryptocurrency exchanges received sealed indictments from the U.S. Department of Justice (DOJ).
During a speech on Space platform last Wednesday, Deaton emphasized that regulatory agencies and legislators have shifted their attitudes toward the cryptocurrency industry. He believes that participants in the cryptocurrency market need to be prepared for a prolonged battle.
“Unfortunately, I think we have to be prepared for a prolonged battle. We are witnessing them go from ‘we’re going to kill cryptocurrency’ to ‘no, we can’t,’ so we have to shatter it so traditional players can come in and take over.”
Deaton’s comments were earlier reported, suggesting that cryptocurrency as a policy issue should be litigated in court until 2025, after which the United States might reach a political consensus on the matter.
Jeremy Hogan, another attorney who participated in the Space discussion, recalled that the U.S. SEC even mentioned in a filing that it would not appeal the summary judgment on XRP.
He added that the SEC stated it was not interested in whether XRP itself is a security, so that issue would not be considered.
Hogan emphasized that these ideas, people, and resources are fleeing the United States in search of a place where these great ideas can at least develop legally. Therefore, he called for a sense of urgency and action to stop this trend.