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
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.
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