Working Together With Regulators
- John Deaton, attorney representing XRP token holders in the Ripple Vs SEC lawsuit, argues against working with the SEC
- Deaton believes the SEC is acting in bad faith with the crypto market participants
- He disagrees with Anthony Pompliano’s call for regulators and entrepreneurs to work together
- Deaton suggests defeating and removing the current SEC Chair, Gary Gensler, before working with a new regulator in good faith
Will Gary Gensler Be Overthrown?
- Ripple Labs opposes the SEC’s efforts to certify an interlocutory appeal in the XRP lawsuit
- Calls for the removal of Gary Gensler as SEC Chair due to anti-crypto enforcement actions
- Attorney Deaton believes removing the current establishment is the only way forward for the crypto community
- Speculation on whether Gensler will be removed from SEC responsibilities ahead of the 2024 US election
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Hot Take
John Deaton’s argument against working with the SEC shows the growing frustration and mistrust within the crypto community. The call for removing Gary Gensler highlights the belief that a change in leadership is necessary for fair regulation. However, it remains to be seen whether these calls will be heeded and if a new regulator will prioritize collaboration and good faith with crypto market participants.
