Famend crypto lawyer John Deaton has volunteered to testify at a congressional listening to on cryptocurrencies scheduled for January 10.
On Thursday, Deaton took to X (previously Twitter), expressing his willingness to represent the pursuits of a number of particular person token holders. He supplied to testify, on the listening to by the Digital Property, Monetary Expertise, and Inclusion Subcommittee of the Home Monetary Providers Committee.
The listening to will study the affect of the Monetary Stability Oversight Council’s regulatory framework within the crypto area.
If you’d like somebody to testify who really represents the pursuits of token holders – not crypto firms – and who has taken on the SEC and who’s helped expose simply how a lot Gary Gensler does NOT defend traders – I volunteer my companies. I represented 75K XRP holders as…
— John E Deaton (@JohnEDeaton1) January 4, 2024
“If you’d like somebody to testify who really represents the pursuits of token holders – not crypto firms – and who has taken on the SEC and who’s helped expose simply how a lot Gary Gensler does NOT defend traders – I volunteer my companies.”
The professional-XRP advocate is thought for his role as amicus counsel for over 75,000 XRP holders within the Ripple-SEC lawsuit. He formally filed a proper discover of look as an Amicus Curiae within the LBRY lawsuit in September 2023.
Additional, the legal professional, who can be the founding father of CryptoLaw, predicted the potential of having a cut up victory within the lawsuit between the American cryptocurrency trade Coinbase and the Securities and Change Fee (SEC).
Deaton beforehand cited Jan. 17, 2024, as the subsequent key date within the Coinbase litigation.
“If you’d like the American public to study what Gary Gensler and the Biden/Warren Administration is doing to hurt on a regular basis common Individuals, let me know,” he wrote within the Tweet.
Following his Tweet, the XRP group responded with vital help, urging the chair of the Home Monetary Providers Committee Patrick McHenry to swiftly reply to Deaton’s participation.
“Come on @PatrickMcHenry do that as a parting present. we’ve got suffered lengthy sufficient,” wrote one consumer.
@PatrickMcHenry, please take into account @JohnEDeaton1. There isn’t any one higher to symbolize us however @JohnEDeaton1.
— XRPKickz.GaryGenslerResign (@JumpmanFiend) January 4, 2024
@PatrickMcHenry @FinancialCmte sure permit @JohnEDeaton1 to testify on this matter. He’s an knowledgeable on this and is aware of precisely what #gensler is attempting to do #firegarygensler
— CrimZn (@CrimZn) January 4, 2024
Moreover, Deaton additionally challenged SEC chair Gary Gensler’s stance on investor safety, notably within the context of the regulator’s lawsuit towards Coinbase. He’s advocating for a Congressional subpoena for Gensler and the SEC for his or her lack of compliance.
We don’t let up! Go to https://t.co/TMrNeTTvTd and take a look at our real-time COUNTDOWN since @PatrickMcHenry threatened to difficulty a Congressional subpoena to @GaryGensler and the @SECGov resulting from his non-compliance.
Hey @ewarren and @SenSherrodBrown:
That is what SEC oversight… https://t.co/DicehI9eI0 pic.twitter.com/AStlzMCWAu
— John E Deaton (@JohnEDeaton1) January 3, 2024
He additionally urged Senators Elizabeth Warren and Sherrod Brown to hold out their tasks in overseeing the SEC’s actions.
“Hey Elizabeth Warren and Senator Sherrod Brown: That is what SEC oversight appears like,” his submit learn. “Because you two received’t do your job, non-public residents will maintain you accountable. Simply DO YOUR JOB.”