XRP Attorney: Elizabeth Warren Behind US SEC's Crypto Lawsuits

Also Read: Cardano (ADA) Selloff Picks Momentum After Been Implicated in Coinbase Crackdown

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Deaton said there could be political agenda behind the SEC’s legal action against two of the world’s top crypto exchanges. This is all the more important in the current regulatory environment as crypto increasingly looks to become an election year issue ahead of the US presidential election 2024.

CBDC Push Behind Binance, Coinbase Lawsuits?

The XRP lawyer wondered if Senator Elizabeth Warren and SEC Chair Gary Gensler are pushing for the launch of the CBDCs, and which is why they are attacking the crypto exchanges. Deaton has long argued that Wall Street biggies of the likes of Goldman Sachs and JP Morgan would look to gain some share of the Crypto Market business, before the United States administration implements a full fledged digital assets regulatory framework. The attorney explained the merits of the lawsuits speaking in CryptoLawTV session on Tuesday.

“(The lawsuits may have come) because of political agenda as Senator Elizabeth Warren all of a sudden wants to go anti-crypto and her good friend Gary Gensler is going to help her accommodate that. And may be they are pushing for central bank digital currency (CBDC). Or may be Goldman Sachs and JP Morgan are upset over the success of Coinbase.”

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Meanwhile, the Crypto Market hardly got affected by the two back to back lawsuits, as Bitcoin price soared up around 5% following the Coinbase lawsuit news.

Also Read: Is Ripple-Like Lawsuit Looming, Coinbase CEO Vows to Seek Legal Redress With SEC

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