Renowned crypto lawyer John Deaton has volunteered to testify at a congressional hearing on cryptocurrencies scheduled for January 10.
On Thursday, Deaton took to X (formerly Twitter), expressing his willingness to represent the interests of several individual token holders. He offered to testify, at the hearing by the Digital Assets, Financial Technology, and Inclusion Subcommittee of the House Financial Services Committee.
The hearing will examine the impact of the Financial Stability Oversight Council’s regulatory framework in the crypto space.
If you want someone to testify who actually represents the interests of token holders – not crypto companies – and who has taken on the SEC and who’s helped expose just how much Gary Gensler does NOT protect investors – I volunteer my services. I represented 75K XRP holders as…
— John E Deaton (@JohnEDeaton1) January 4, 2024
“If you want someone to testify who actually represents the interests of token holders – not crypto companies – and who has taken on the SEC and who’s helped expose just how much Gary Gensler does NOT protect investors – I volunteer my services.”
The pro-XRP advocate is known for his role as amicus counsel for over 75,000 XRP holders in the Ripple-SEC lawsuit. He officially filed a formal notice of appearance as an Amicus Curiae in the LBRY lawsuit in September 2023.
Further, the attorney, who is also the founder of CryptoLaw, predicted the possibility of having a split victory in the lawsuit between the American cryptocurrency exchange Coinbase and the Securities and Exchange Commission (SEC).
Deaton previously cited Jan. 17, 2024, as the next key date in the Coinbase litigation.
“If you want the American public to learn what Gary Gensler and the Biden/Warren Administration is doing to harm everyday regular Americans, let me know,” he wrote in the Tweet.
Following his Tweet, the XRP community responded with significant support, urging the chair of the House Financial Services Committee Patrick McHenry to swiftly respond to Deaton’s participation.
“Come on @PatrickMcHenry do this as a parting gift. we have suffered long enough,” wrote one user.
@PatrickMcHenry, please consider @JohnEDeaton1. There is no one better to represent us but @JohnEDeaton1.
— XRPKickz.GaryGenslerResign (@JumpmanFiend) January 4, 2024
@PatrickMcHenry @FinancialCmte yes allow @JohnEDeaton1 to testify on this matter. He is an expert in this and knows exactly what #gensler is trying to do #firegarygensler
— CrimZn (@CrimZn) January 4, 2024
Additionally, Deaton also challenged SEC chair Gary Gensler’s stance on investor protection, particularly in the context of the regulator’s lawsuit against Coinbase. He is advocating for a Congressional subpoena for Gensler and the SEC for their lack of compliance.
We don’t let up! Go to https://t.co/TMrNeTTvTd and check out our real-time COUNTDOWN since @PatrickMcHenry threatened to issue a Congressional subpoena to @GaryGensler and the @SECGov due to his non-compliance.
Hey @ewarren and @SenSherrodBrown:
This is what SEC oversight… https://t.co/DicehI9eI0 pic.twitter.com/AStlzMCWAu
— John E Deaton (@JohnEDeaton1) January 3, 2024
He also urged Senators Elizabeth Warren and Sherrod Brown to carry out their responsibilities in overseeing the SEC’s activities.
“Hey Elizabeth Warren and Senator Sherrod Brown: This is what SEC oversight looks like,” his post read. “Since you two won’t do your job, private citizens will hold you accountable. Just DO YOUR JOB.”
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