Former SEC Chairman’s Involvement in Ripple Lawsuit Under Scrutiny Following Recent Ruling

The recent ruling in the Ripple vs. SEC lawsuit has brought some much-needed regulatory clarity to the U.S. crypto industry. Judge Analisa Torres declared that XRP is not a security, contradicting the SEC’s claims. This ruling has sparked criticism of the SEC’s regulatory approach and incompetence from the crypto industry.

Tony Edward, the Founder & Host of the Thinking Crypto Podcast, recently drew attention to the former SEC Chairman Jay Clayton, who filed the lawsuit against Ripple and resigned shortly afterward. However, now that XRP has been declared not a security, Clayton seems to have disappeared from the spotlight. Attorney John Deaton has offered his insights on this matter.

In response to a tweet by Tony Edward, Pro-XRP Attorney John Deaton explained that neither Jay Clayton nor William Hinman has commented on the recent Ripple ruling. Deaton pointed out that Clayton was the sole commissioner who reviewed Hinman’s infamous “Hinman Speech,” which provided guidance on the regulation of different digital assets.

It is alleged that Clayton had a meeting with Gary Gensler, the current SEC Chairman, on the day before filing the complaint against Ripple. This complaint was criticized for its broad nature and the assertion that the software code itself was considered a security.

Deaton’s remarks suggest that there might be a connection between Clayton’s actions and the meeting with Gensler. It is possible that there is a deeper involvement or motive behind the filing of the complaint against Ripple.

Community members have responded to Deaton’s remarks, questioning the whereabouts of Jay Clayton and suggesting that he has been hiding since the Ripple judgment out of embarrassment. Others have expressed their dissatisfaction with the regulatory system, referring to it as “rigged.”

The ruling in the Ripple vs. SEC lawsuit has undoubtedly had a significant impact on the U.S. crypto industry. It has provided some much-needed clarity on the regulatory status of XRP and raised questions about the actions of former SEC Chairman Jay Clayton. As the crypto community continues to analyze the implications of this ruling, it is evident that the SEC’s regulatory approach and transparency will be closely scrutinized.