In a recent tweet, John E Deaton, the Founder of Crypto-Law.us and Managing Partner of the Deaton Law Firm, expressed his suspicions regarding a possibility that U.S Department of Justice (DoJ) will file criminal charges against leading cryptocurrency exchange Binance and its CEO, Changpeng Zhao (CZ).
Deaton suspects that the DOJ will pursue criminal charges following the recent 13 cases filed by the SEC against CZ led Binance, emphasizing that this move by Gary Gensler appears to be an attempt to preemptively claim litigation rights.
Deaton clarifies that he is not advocating for or against the filing of charges, nor is he commenting on the validity of the allegations.
However, he believes that these actions align with Gensler’s ambitious nature and contribute to the current administration’s narrative against cryptocurrencies.
If the criminal charges are indeed filed, it could have significant implications for the crypto industry and the upcoming 2024 election.
The issue of Bitcoin, cryptocurrencies, and the administration’s stance on innovation is expected to emerge as a prominent topic during the election campaign.