$XRP #crypto2023 Ripple (XRP) Lawyer Attacks SEC After Fake Bitcoin ETF News

Following the spread of misleading news about the approval of a Bitcoin exchange-traded fund (BTC ETF) by BlackRock, John Deaton, a cryptocurrency lawyer and supporter of Ripple (XRP), criticized the US Securities and Exchange Commission (SEC).

Deaton called for the need to place confidence in independent judges instead of the panel.

Recent news stories focused on the Securities and Exchange Commission's decision to approve BlackRock's application to launch a Bitcoin fund (ETF), which resulted in cryptocurrency prices rising and stimulating and increasing enthusiasm in the market.

But the joy did not last for long, as the authority revealed that this news was not true and warned the public against trusting unconfirmed sources.

Deaton, who represents Ripple investors, criticized the authority’s actions as arbitrary and capricious.

He shed light on the judges who monitor the commission, noting that there must be confidence in their assessments and decisions and not just in the commission’s statements itself.

It is worth noting that the Securities and Exchange Commission has faced many legal issues with cryptocurrency companies, as major challenges appear in this area.