SEC's crackdown on crypto industry sparks concerns for its future.
Pro-XRP lawyer John Deaton predicts that the US Securities and Exchange Commission (SEC) will continue its anti-crypto agenda until big banks like JPMorgan and Goldman Sachs can acquire a larger share of the market. Deaton believes that once the banks have their piece of the crypto pie, US officials will conveniently draw up a regulatory framework for the industry. The recent charges against Coinbase and Binance are part of this agenda, and Deaton expects large institutions to buy up much of the industry.