US SEC Sees Seeking Compliance As Violation, Says XRP Attorney & Coinbase CLO
US SEC Deters Crypto Compliance Efforts Coinbase CLO Paul Grewal expressed concerns about why the US SEC denies advising crypto firms on complying with the law and sees it as proof of an intent to break the law. advertisement “I’ve never understood the logic that seeking advice to comply with the law is proof of an intent to break the law. Sometimes, maybe most times, it’s actually the opposite.” Pro- XRP lawyer John Deaton said, “Paul is on point here.” The SEC has maintained a negative view of crypto and deters good conduct. The SEC sees seeking advice on selling a token lawfully in the US as an intent to violate Section 5 of the Securities Act. “If you are transparent and publicly disclose partnerships with others, along with token sales, the SEC uses it against you and argues that you are publicly demonstrating a common interest with all token holders that the SEC later conflates with being in a common enterprise wi...