Crypto community responds to Kraken lawsuit, Deaton slams 'dishonorable' Gensler


21 Nov 2023 10:15 AM

Deaton called Gensler a “despicable and dishonorable regulator” and looks forward to him “going down,” while Senator Cynthia Lummis also commented that the SEC’s cannot continue to “rule by enforcement.” ...

  • The Securities and Exchange Commission (SEC) has filed a lawsuit against crypto exchange Kraken, alleging that it has been operating as an unregistered exchange and mixing customer assets with its own.
  • Kraken founder Jesse Powell called the SEC's action an "assault on America" and urged other companies to leave the U.S.
  • Kraken CEO Dave Ripley strongly disagrees with the SEC's claims and plans to vigorously defend the company's position, citing the lack of regulatory clarity in the U.S.
  • Prominent crypto lawyer John Deaton criticized SEC Chairman Gary Gensler and expressed support for Kraken.
  • Crypto criminal defense lawyer Carlo D'Angelo believes the odds are not in the SEC's favor in court.
  • The SEC's crackdown on crypto has faced backlash, with critics arguing for clearer legislation and guidance.
  • U.S. Senator Cynthia Lummis and House Representative Tom Emmer support the crypto industry and have criticized the SEC's actions.

The sentiment in the article is mixed, with negative sentiment towards the SEC's actions and positive sentiment towards Kraken and its supporters.

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