SEC’s War Against Crypto is Scare Tactics, Says John Deaton

• Crypto lawyer John E Deaton tweeted that the SEC’s war against crypto is a strategy.
• Deaton added that it is directed to help the incumbents to win a major share of the industry.
• The lawyer added that more exchanges have received or would receive the SEC’s Wells Notice.

John E Deaton, the lawyer and Managing Partner of the Deaton Law Firm shared his convictions on the Securities and Exchange Commission’s (SEC) war against crypto as a strategic move towards helping the “incumbents get a major share of the industry”.

Today, Deaton commented via his official Twitter page that SEC’s recent Wells Notice against the leading crypto exchange Coinbase was also an example of the tactics of the agency.

The more that I think about the @SECGov’s war against Crypto including the recent @coinbase Wells Notice, the more I’m convinced the end game is to try and allow the incumbents to get a major piece of the industry. @CaitlinLong_ said others have also received Wells Notices. https://t.co/0nsD5KkoH1

— John E Deaton (@JohnEDeaton1) March 24, 2023

Notably, the lawyer added that Coinbase is not the only target of the SEC, but even more exchanges includin…

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