Attorney John E Deaton Highlights the SEC’s Definition Gap
In the ongoing legal dispute between the Securities and Exchange Commission (SEC) and Ripple, prominent attorney John E Deaton has raised compelling arguments against the SEC’s classification of digital assets as securities. Deaton asserts that labeling tokens as securities is intellectually lazy and constitutionally questionable, drawing attention to the evolving nature of digital assets in today’s cyberspace. Digital assets = lines of code existing in cyberspace. Its intellectually lazy and dishonest to call a token a security. It’s also unconstitutional. It’s the functional equivalent of calling an a security in 1947. Appellate courts will not agree with the SEC’s overreach. https://t.co/3diT2oDf8H — John E Deaton (@JohnEDeaton1) May 24, 2023 According to the attorney, digital assets are merely lines of code existing in the realm of cyberspace. Deaton believes that appellate courts will reject the SEC’s overreach and recognize the distinction be...