Lawyer: If SEC wins Ripple lawsuit, anti-encryption officials such as Gensler will attack with all their might

Odaily Planet Daily News The US SEC asked Coinbase to stop all cryptocurrency transactions except Bitcoin before suing Coinbase. In this regard, lawyer John E Deaton tweeted and commented, "Now you can really see the importance of the XRP ruling. If the SEC wins this lawsuit, the anti-encryption army of SEC Chairman Gary Gensler and US Senator Elizabeth Warren will go all out Striking. When I call the Ripple XRP case the most significant non-fraudulent SEC enforcement action in modern history, it’s not as hyperbolic as some are claiming.” According to previous reports, before suing Coinbase, the US SEC asked Coinbase to stop all cryptocurrency transactions other than Bitcoin. Coinbase Chief Executive Brian Armstrong told the Financial Times that the SEC, following its recommendations, brought legal action against the company last month for failing to register as a broker. The SEC’s lawsuit identifies 13 cryptocurrencies that are lightly traded on Coinbase’s platform as securities and claims that by offering them to customers, the exchange falls within the SEC’s regulatory purview.