Deaton Takes Legal Action Against Securities Regulators, Garlinghouse Predicts Crypto Market Doubling by 2024

Ripple CEO Brad Garlinghouse recently appeared as a guest on FOX Business’ “Mornings with Maria” to share his thoughts on the ever-expanding crypto market and projected that it is poised to double in size by 2024. Meanwhile, Massachusetts Senate candidate John Deaton has taken legal action against securities regulators for their handling of cryptocurrencies while simultaneously running as a Republican hopeful looking to unseat Democratic Senator Elizabeth Warren from her position. The crypto-enthusiast and lawyer filed an amicus brief in support of Coinbase, which is embroiled in an ongoing legal dispute with the SEC, stating that small investors are being neglected by regulators who only seem interested in serving their political masters rather than protecting them. Deaton argues that if there’s any clarity required regarding how the Howey Test applies to digital assets, it should be decided upon by a higher court like an appellate or even possibly the US Supreme Court due to inconsistencies surrounding SEC lawyers’ views on cryptocurrency regulation. In his brief, he also criticized the SEC for its “malevolent” approach towards regulating crypto and accused them of attempting to force digital assets into existing securities laws frameworks that didn’t exist in the 1930s when they were created. This isn’t Deaton’s first time taking on regulators as a means of advocating for the $2 trillion cryptocurrency industry, having previously represented XRP investors and LBC token users during legal disputes with SEC officials. His efforts in these cases have earned him support from retail holders within this space. The outcome of Coinbase’s motion for appeal could set a significant precedent regarding whether the SEC has regulatory oversight over transactions between individual retail cryptocurrency traders or if exchanges like Coinbase can operate without such scrutiny.