Crypto Lawyer Denies SEC Report on XRP, ADA, and SOL Roles

Crypto lawyer John E. Deaton has refuted a report claiming the U.S. Securities and Exchange Commission (SEC) had assigned specific roles to XRP, ADA, and SOL.

Deaton stated unequivocally on social media platform X that the SEC did not release any such information.

> EVERYONE:
> The @SECGov did not release any such thing. https://t.co/PbRoMZbe6A
> — John E Deaton (@JohnEDeaton1) March 14, 2025

What Did the Disputed Report Claim?

The report, which appeared on a crypto news platform several hours before Deaton’s rebuttal, alleged that the SEC had designated:
– XRP for state-level financial transactions
– ADA for academic credentialing and government services
– SOL for high-speed blockchain applications

The article also claimed that these were the three cryptocurrencies President Donald Trump mentioned as part of a national crypto reserve.

Related: Is This XRP Proposal on the SEC Website Real? Questions Swirl

According to the discredited report, the SEC indicated that the US government will use:
– XRP for optimizing government payments and interbank liquidity
– ADA for smart contracts in government services
– SOL for applications like real-time databases and secure voting mechanisms

Market Reaction: Temporary Gains, Lingering Questions

Although neither the US government nor the SEC has confirmed or denied the claims in the original report, the affected cryptocurrencies recorded positive returns:
– XRP surged 10% from $2.238 to $2.475
– ADA registered an 8.7% gain, rising from $0.6960 to $0.7577
– SOL gained 10.33%, climbing from $122.92 to $136.09

Disclaimer: The information presented in this article is for informational and educational purposes only. It does not constitute financial advice. Coin Edition is not responsible for any losses incurred as a result of the use of content mentioned. Readers are advised to exercise caution before taking action related to the company.