Pro-XRP Lawyer Seeks To Expose SEC After Elon Musks DOGE Scrutiny
Pro-XRP lawyer John Deaton has shown interest in collaborating with the Elon Musk-led Department of Government Efficiency (DOGE) on issues related to the United States Securities and Exchange Commission (SEC). The temporary Department continues its investigation into government agencies to tackle excessive government spending, corruption, and other related activities. This drew the attention of crypto users after a long history with the Commission in the Biden administration.
John Deaton and XRP Community Backs DOGE
DOGE is expanding its government investigations to the SEC, sparking a frenzy among crypto enthusiasts. In a recent X post, a newly created account, DOGE SEC, called on the public to provide insights of fraud and waste against the financial regulator in line with its objectives.
DOGE is seeking help from the public! Please DM this account with insights on finding and fixing waste, fraud, and abuse relating to the Securities and Exchange Commission.
John Deaton, a lawyer who backed Ripple in its prolonged case with the SEC, weighed in on the conversation. He noted that the DOGE needs to talk to him, adding that he has exposed things in the Commission in recent years. Deaton was a pro-crypto candidate for Senate in the last election, losing out to Elizabeth Warren.
.@elonmusk & @DOGE needs to talk to me, and I can show you a few things Ive learned (and helped expose) the last few years, he wrote.
Crypto market stakeholders also listed possible starting points for DOGE, stressing the harsh treatment of startups. The XRP community, in particular, backed the agency in its quest to investigate the SEC, with some calling for an end to the lawsuit against the firm. In 2020, the SEC filed a lawsuit against Ripple and two executives, citing alleged unregistered securities offerings.
A Move Past Harsh Regulations
Overall, the previous administration was known for its war against the industry with a plethora of lawsuits and harsh policies. In addition, the country lacked a clear set of crypto rules with anti-industry signals for several lawmakers. However, the tide seems to have turned in the markets favor since Donald Trumps inauguration.
The President made several promises to elevate innovation in the sector. First, rules are taking shape with the formation of the SECs task force and the appointment of several market enthusiasts. States have also rolled out Strategic Bitcoin Reserve bills similar to Senator Lummiss proposed law.
Read more: https://zycrypto.com/pro-xrp-lawyer-seeks-to-expose-sec-after-elon-musks-doge-scrutiny/
Text source: ZyCrypto
