Pro-XRP Lawyer Volunteers to Testify at Congressional Hearing
John Deaton, a lawyer known for his support of XRP, has offered to testify at an upcoming congressional hearing on digital assets, financial technology, and inclusion. The hearing, scheduled for January 10, 2024, aims to examine the impact of changing regulatory frameworks on innovation in the crypto sector.
Deaton’s Eagerness to Represent Token Holders
In response to the announcement, Deaton expressed his eagerness to represent the interests of individual token holders in the hearing. He emphasized that he represents token holders rather than crypto companies and has experience challenging the Securities and Exchange Commission (SEC) and exposing their lack of investor protection.
XRP Community Supports Deaton’s Offer
The XRP community showed significant support for Deaton’s offer, urging Chairman McHenry to consider his participation. They view him as a credible and knowledgeable figure who can articulate the impact of government regulations on retail crypto holders.
Criticism of SEC Chairman Gensler
Deaton’s criticism of SEC Chairman Gary Gensler’s approach to investor protection is noteworthy. The SEC’s lawsuit against Coinbase has raised questions within the crypto community about the regulator’s consistency and commitment to protecting investor interests.
Push for a Congressional Subpoena
In addition to offering his testimony, Deaton is pushing for a Congressional subpoena of SEC Chairman Gensler. He called out public figures like Elizabeth Warren and Senator Sherrod Brown to uphold their oversight responsibilities and hold the SEC accountable.
The Importance of the Hearing
The upcoming congressional hearing aims to address risks associated with cryptocurrencies and the need for regulation in crypto spot markets and stablecoins. Deaton’s potential testimony could provide valuable insights from the perspective of cryptocurrency holders and contribute to the understanding of the interplay between innovation, regulation, and investor protection.
Hot Take: Deaton’s Testimony Could Shape Crypto Regulation
If given the opportunity to testify at the congressional hearing, John Deaton’s insights as a pro-XRP lawyer and advocate for individual token holders could have a significant impact on shaping future cryptocurrency regulation. His experience challenging the SEC and his criticism of Chairman Gensler’s approach make him a credible and knowledgeable figure in the eyes of the XRP community. The hearing presents an important opportunity to address regulatory concerns and ensure the protection of investor interests in the crypto sector.
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