John E Deaton commented on the activities of Gary Gensler

Судебное разбирательство: Ripple получила согласие на частичное редактирование документов

Lawyer John E Deaton commented on the activities of Gary Gensler.

John E Deaton on twitter commented on the activities of Gary Gensler. He noted:

My op-ed rebuking @GaryGensler. Gensler claims that he is treating Crypto like all other markets.
NOT TRUE!
Gensler is expanding Howey beyond recognition.
I wrote:
Howey involved the offer and sale of orange groves at a Florida resort owned and operated by the Howey Co.

He also added:

The Hotel guests invested in harvesting oranges. The company pitched to its guests that it would do all the necessary work involved in growing and selling oranges. Aside from signing the land purchase and service contracts, the investors did nothing – except collect money.
But when Gensler looks at crypto, he not only sees an opportunity to regulate how the land and service contracts were sold, but an opportunity to regulate the oranges.
For comparison [to Howey] blockchains are the orange groves, but instead of producing oranges, each blockchain produces a native cryptocurrency.
It’s like saying the Howey oranges eventually sold by a grocer are unregistered securities.
As a legal theory, it should frighten everyone well beyond the crypto space.
Unless Gensler attends to regulate secondary market sales of orange he is not treating Crypto the same.