- John E Deaton criticized the US SEC’s gross abuse of discretion standards.
- He exemplified the negligence of the case of Bernie Madoff, who had been alleged of a Ponzi scheme.
- In subsequent tweets, he added that a systematic investigation is needed to probe into the details of the commission.
John E Deaton, the blockchain enthusiast, lawyer, and CryptoLaw founder, tweeted recently, criticizing the US Securities and Exchange Commission’s (SEC) gross abuse of the discretion standard, based mainly on the commission’s allegation against the crypto exchange, Ripple Labs, for illegally selling over $1.3 billion in XRP.
He commented that the “subpoena power” to get the personal emails of the former SEC officials would help one to know more about the commission’s Executive Branch.
Earlier today, Deaton tweeted that the allegations that the SEC asserts are within the “discretionary functions of the Executive Branch.”
Who the SEC elects to sue and the specific allegations it asserts are w/in the discretionary functions of the Executive Branch. You can challenge a decision based on a gross abuse of discretion standard (extre ...The post SEC’s Gross Abuse of Discretion Standards: Deaton Tweets appeared first on Coin Edition.