Gensler's Exit Vital for Crypto US Growth, Says Crypto Lawyer
Crypto is growing fast! Pompliano says experts and rule-makers should join hands for a brighter future, but Deaton sees hurdles. What's next for the US in crypto?
Cryptocurrency is becoming very popular. Many people are talking about it. Anthony Pompliano, a famous name in this field, believes that the people who make rules (regulators) and those who work with crypto (entrepreneurs) should cooperate.
Pompliano said, "Regulators & entrepreneurs should work together. America leads in money matters. We should use bitcoin more to stay ahead." He talked about this with Melissa Lee and Scott Wapner on a TV show.
But, John Deaton, a crypto lawyer, thinks differently. He believes that working with current regulators, especially Gary Gensler from the SEC, is hard. He talks about Jeremy Kauffman from LBRYcom. Kauffman tried to explain his work to the SEC, but things didn't go well. Companies like Ripple and Dragonchain also had problems with the SEC.
Ripple spent a lot of money on lawyers. Deaton thinks that money could've been used better. He also said that a court found the SEC's actions unfair. For him, the issue is that the SEC doesn’t give clear reasons for their decisions. He believes Gensler has to be removed before the possibility of regulators and crypto entrepreneurs working together can become a reality.
So, what does this mean for the crypto world? Cryptocurrencies are the future, and the US needs to be part of it. But Deaton warns that the current situation is tricky. He thinks regulators should be clearer and fair.
In conclusion, the US can lead in the crypto world. But for that, rule-makers and crypto experts need to work together with respect and a shared goal.
