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Stop Protecting American Public, Pro-XRP Attorney Tells SEC Chair

Crypto lawyer John Deaton is urging SEC Chair Gary Gensler to withdraw his regulatory actions against crypto companies, claiming that they harm the industry while failing to protect Americans. The SEC has been enforcing unclear regulatory measures against several crypto entities, including Ripple, Paxos, Bittrex, and Coinbase. Deaton argues that XRP is not a security but a digital currency, and the ongoing lawsuit against Ripple is pushing legal boundaries. The SEC maintains that its actions are necessary to protect investors and ensure compliance with securities laws.

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