In favor of XRP Here’s Why Attorney Deaton Wants To Appear Before US Congress

Pro-XRP lawyer John Deaton has publicly volunteered to testify at an upcoming congressional hearing on digital assets, financial technology, and inclusion. The hearing, scheduled for January 10, 2024, by the Digital Assets, Financial Technology, and Inclusion Subcommittee of the House Financial Services Committee, aims to examine the impact of the Financial Stability Oversight Council’s (FSOC) changing regulatory framework on innovation in the crypto sector.

1. Pro-XRP Attorney’s Volunteering

  • John Deaton, a pro-XRP lawyer, publicly offers to testify at an upcoming congressional hearing on digital assets, financial technology, and inclusion.
  • The hearing, scheduled for January 10, 2024, by the Digital Assets, Financial Technology, and Inclusion Subcommittee, aims to examine the impact of the Financial Stability Oversight Council’s changing regulatory framework on innovation in the crypto sector.

2. Distinction from Crypto Company Advocates

  • Deaton expresses eagerness to represent individual token holders, distinguishing himself from advocates for crypto companies.
  • His track record includes representing over 75,000 XRP holders in the Ripple case and involvement in the LBRY case.

3. Community Support and Endorsement

  • Significant support from the XRP community for Deaton’s offer to testify.
  • Community views Deaton as a credible and knowledgeable figure capable of articulating the impact of government regulations on retail crypto holders.

4. Criticism of SEC Chairman Gensler

  • Deaton criticizes SEC Chairman Gary Gensler’s approach to investor protection, particularly in light of the SEC’s lawsuit against Coinbase.
  • Advocates for a Congressional subpoena of SEC Chairman Gensler and highlights the lack of compliance from the SEC.

5. Lack of Response from Committee Chairman

  • Deaton’s offer awaits a response from House Financial Services Committee Chairman Patrick McHenry.
  • Community urges Chairman McHenry to consider Deaton’s participation.

6. Importance of the Hearing

  • Scheduled hearing titled “Regulatory Whiplash: Examining the Impact of FSOC’s Ever-Changing Designation Framework on Innovation” aims to address risks associated with cryptocurrencies.
  • Emphasis on the need for regulation of crypto spot markets and stablecoins.
  • Deaton’s potential testimony could offer valuable insights from the perspective of cryptocurrency holders, contributing to the understanding of innovation, regulation, and investor protection in the digital asset space.

7. XRP Trading Information

  • At press time, XRP traded at $0.57993.
  • XRP price closed above the 200-day EMA on the 1-day chart.

Note: As of the provided information, there’s no response from Patrick McHenry to Deaton’s offer.

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