Table content
# Crypto Attorney John Deaton Denounces Assertions of SEC Approval Concerning XRP and Cardano
John Deaton, a well-known personality in the digital currency realm, is rectifying the narrative surrounding assertions about the SEC’s position on XRP and Cardano.
**Disclaimer:** The opinions articulated herein belong exclusively to the author and do not mirror the perspectives of U.Today. Financial and market details furnished on U.Today are solely intended for informational purposes. U.Today bears no liability for any monetary setbacks endured while dealing in cryptocurrencies. It is advisable to seek counsel from a financial expert before engaging in any investment endeavors. We maintain that all content is precise as of the publication date, but certain mentioned offers might no longer be accessible.
Deaton, recognized for advocating for XRP proprietors, is denouncing a widespread declaration as erroneous. This declaration implies that the U.S. Securities and Exchange Commission (SEC) has formally acknowledged distinct functions for XRP, Cardano (ADA), and Solana (SOL) within the crypto environment.
## Correcting the Narrative on XRP and Cardano
Deaton turned to X (previously Twitter) to elucidate the matter, asserting, “To ensure clarity for everyone: @SECGov has not issued any such declaration.”
His clarification was triggered by a message that erroneously asserted the SEC had classified XRP, ADA, and SOL for specific applications, encompassing financial dealings, intelligent agreements, and secure voting systems.
Deaton firmly believes that this assertion is disinformation, particularly given its escalating prevalence within the crypto sphere. The initial message had already amassed over 560,000 views on X by the time he responded.
While certain analysts surmise that the incorrect assertion could foster favorable disposition towards XRP, they concur with Deaton’s choice to discredit it. Permitting such disinformation to proliferate could ultimately impair the asset’s standing in the long term.
## The Significance of Deaton’s Caution
Deaton’s involvement is paramount because it underscores the necessity of validating details in the swiftly changing crypto domain. Untrue assertions can readily garner momentum and sway investor frame of mind, possibly culminating in misguided choices. By denouncing this disinformation, Deaton is contributing to ensuring a more knowledgeable and lucid setting for XRP and the wider crypto populace. Qtum (QTUM) Faces Potential Price Crash to $0.50 Amid Bearish Technicals
Deaton cautions XRP owners to remain vigilant and avoid being duped by false information. According to specialists, fraudsters may attempt to exploit XRP’s appeal by developing harmful links to steal cash.
Deaton released this piece to clarify the situation and safeguard XRP users.
U.Today reports that Deaton has encouraged community members to remain watchful and double-check facts, particularly if they claim to originate from credible sources. He believes that this is critical for avoiding becoming a victim of online frauds.
As of press time, this upgrade has had no negative impact on XRP or Cardano. XRP is trading at $2.40, representing a 3.83% increase in the previous 24 hours, while Cardano is trading at $0.7472, representing a 3.74% increase.
