© Reuters Crypto Lawyer Thinks Michael Saylor Doesn’t Understand Securities Laws
- John Deaton thinks Michael Saylor does not understand security laws.
- Previously, the crypto criticized the SEC’s claim that was a security.
- A 2019 US regulation states that crypto is not a security if used for payments.
The argument about what constitutes a security contract remains a hot topic within the crypto industry. Recently, the well-known crypto lawyer, John Deaton, fired back at the chairman of MicroStrategy, Michael Saylor, due to a comment he made regarding security tokens.
Deaton specifically told Saylor that anyone who “truly understands securities laws knows that an investment contract is not the underlying asset or token.”
Always a good discussion between @RaoulGMI and @saylor. To Saylor I must add however, anyone who truly understands securities laws knows the investment contract (aka security) is NOT the underlying asset or token. You must distinguish secondary sales independent of the promoter. https://t.co/FHjChYRmBb
— John E Deaton (@JohnEDeaton1) February 11, 2023
Previously, Deaton criticized the US Securities and Exchange Commission’s (SEC) claim that Ripple’s native blockchain token, XRP, constituted a security c…
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