Thread by @JohnEDeaton1

⚠️ WARNING ⚠️ AND
⛔️ DANGER ⛔️ THREAD
In several previous Threads, I have warned about government overreaching into the Cryptocurrency markets. Have governments around the world ever truly believed that #Bitcoin and Crypto would get to the point that it finds itself today?

https://twitter.com/johnedeaton1/status/1352056364177235971

I don’t know. I know that these fiat loving government leaders and career bankers feel THREATENED by Crypto. Why did Jamie Dimon call #Bitcoin a fraud? Of course, his Bank JPM started buying it, and now, after buying it at a lower price, are predicting it goes above 150K in 2021.

Watching Dimon’s reaction, regarding #Bitcoin , is one reason that convinced me to become even more interested in the Crypto space. You can literally see the fear in his eyes and face. In fact, he recently commented that the major Banks should be scared “shitless” of FinTech.

Recently, Christine Lagarde called for regulation over #Bitcoin. If you think her comments should be discarded because she is only one person and she’s in Europe, then, maybe, you missed Janet Yellen’s testimony at her Senate confirmation hearing?

https://twitter.com/btctn/status/1349790663576059909

We should all be concerned with what she is saying in 2021. This danger isn’t limited to a Democrat or a Republican Administration. Don’t forget that former Treasury Secretary Steven Mnuchin, after the November 2020 G20 Conference, said the NUMBER 1 topic of discussion after the

https://twitter.com/apompliano/status/1351597369796808709

global pandemic was “the need to regulate Cryptocurrencies.” In my last Thread I questioned whether the SEC filled the Complaint against Ripple with allegations of wrongdoing WITHOUT charging fraud or misrepresentation as a tactic to DIVIDE the Crypto community. Make no mistake

https://twitter.com/JohnEDeaton1/status/1352056355805388802

about it, if the SEC is successful in getting Today’s XRP declared a security, it could unleash career fiat loving bureaucrats that see an opportunity to not only acquire your digital assets, but protect their precious beloved system of finance. I believe Cryptocurrencies are the

future of global fiancé. I believe the digitalization of all assets, including real estate, stocks, Bonds, commodities, precious metals, etc., are the future. The real question is whether governments are going to work with the innovation of the private sector or attempt to

frustrate it hrough the use of regulation. Despite what @Lagarde or @JanetYellen claim; there is no need for MORE regulation. Regulatory clarity and guidance? Yes! But we don’t need more regulation. For example, claiming that Today’s XRP is a security is silly. That doesn’t mean

that no laws apply here. Just not securities’ laws. We already have existing consumer protection laws; banking laws; anti-fraud laws; anti-money laundering laws; unfair trade and practice laws, etc. If the SEC gets it’s way, then two separate U.S. governmental agencies will have

declared XRP two different things. I’ve made it clear that I don’t know the intent of the SEC related to Ripple or XRP. Like you, I can only theorize until the truth is revealed. My theories are no better than yours. But my distrust of government, makes me concerned for all

of Crypto. Could the SEC, employing the regulation by enforcement strategy, target #Bitcoin , down the road, if successful, with classifying #XRP a security? In a previous Thread, I tried to make clear that if Today’s XRP is a security, then so is #Ethereum. But what about

#Bitcoin Certainly, no person would DARE argue that, today, #BTC constitutes a security? Come on JD, you’ve lost it Dude! Am I crazy? I bet @APompliano would say that I am - for even suggesting such blasphemy against the King 🤴 of all Crypto. Didn’t a judge rule that #BTC is a

form of currency? Didn’t Jay Clayton, himself, declare #Bitcoin currency because it’s a SOV? The government would never be inconsistent and go back on what it previously declared, right? Has this type of governmental inconsistency ever happened before? Well, since I asked:

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XRP has been trading in Secondary Markets since 2013. In 2015, the DOJ and FinCen settled a case with Ripple and determined that XRP was “virtual currency” and that Ripple was a MONEY transmitter of XRP. What’s SCARY about our Government is that the 2015 determination by FinCen

doesn’t prevent a different U.S. Agency, like the SEC, from claiming that the same XRP that was declared a virtual currency was ALSO a security - AT THE SAME TIME! If the U.S. Government’s inconsistent, almost schizophrenic, approach to XRP, doesn’t scare other Crypto projects,

INCLUDING #Bitcoin , then stop reading this Tweet. Some believe it’s impossible to claim #BTC is a security? Let’s review a few things. As my friend @Santiag78758327 explained, Miners and Node Validators for
PoW create a Digital Asset. That asset, if it’s on the Bitcoin

Monetary Network, is #BTC. These miners are creating BTC into existence for the sole purpose of selling that BTC in the secondary markets for profit. Has there ever been or is there now something called the @BTCFoundation - similar to the @ethereum Foundation? Yes. Did the #BTC

Foundation promote the use and/or purchase of #BTC ? Yes. Have there been ventures related to the development of #Bitcoin ? Yes. What about Bitcoin Mining Pools? Are #BTC mining pools common enterprises seeking to generate #BTC to be sold for profit? Yes. Have individuals or

entities purchased #BTC speculating that it would increase in value? Yes. Have those individuals or entities sold #BTC for a “return” in the secondary markets? Yes. Under Clayton’s absurd definitions of what constitutes a security, it would appear that one could make a similar

argument that #Bitcoin , in certain situations, is a security. Hopefully, you realize that I clearly don’t believe, under any circumstances, that #Bitcoin is a security. I don’t believe #ETH is a security. But, in the beginning of every Cryptocurrency’s creation and development,

you can make a legal argument that it STARTED OUT as a security. This applies to #XRP. This applies to #ETH. And, although there is no Bitcoin CEO, or any way to sue Satoshi Nakamato, it can be argued that it applies to instances involving #BTC. Remember, it’s not just me, one

lawyer, saying it’s absurd for the
@SEC_News to claim that TODAY’S #XRP is a security. It’s also former SEC enforcement lawyers saying it; former SEC Chief Grundfest saying it; former CFTC Chairman @giancarloMKTS saying it; @JpThieriot and @UpholdInc saying it, etc etc. The SEC

can charge @Ripple @bgarlinghouse and @chrislarsensf for specific early distributions, but it’s a slippery slope the SEC is going down to say today’s XRP is a security. If the SEC and the government get a green light to do this, are you sure they won’t stop at #XRP? Are you sure

https://twitter.com/johnedeaton1/status/1351587435558404096

@VitalikButerin that you are in the clear 💯 percent? Are you sure @maxkeiser @PeterMcCormack @michael_saylor that all #Bitcoin is in the clear? Maybe when people like @RaoulGMI discuss Crypto projects other than #Bitcoin , he shouldn’t get attacked.
END THE TRIBALISM