Pro-XRP Advocate John Deaton Backs Paul Atkins for SEC Chair Amid Reform Push
John Deaton, a leading advocate for XRP and fair cryptocurrency regulation, has endorsed Paul Atkins to succeed SEC Chair Gary Gensler,.
John Deaton, a leading advocate for XRP and fair cryptocurrency regulation, has endorsed Paul Atkins to succeed SEC Chair Gary Gensler, calling for sweeping reforms within the agency.
Key Highlights:
- John Deaton supports Paul Atkins, citing his balanced approach to cryptocurrency regulation and his critical stance on Gary Gensler’s leadership.
- Deaton advocates for sweeping reforms at the SEC, including accountability for alleged misconduct and the removal of unethical practices.
- Paul Atkins is recognized for his pro-innovation stance and calls for reducing regulatory burdens on emerging technologies like cryptocurrency.
Pro-XRP Lawyer Pushes for Change at the SEC
John Deaton, a crypto regulation advocate, has endorsed Paul Atkins as SEC Chair. Deaton has been critical of current Chair Gary Gensler, saying he’s too heavy handed and stifling innovation in crypto.
“The SEC under Gensler has been oppressive, providing no guidance and going after crypto companies,” Deaton said. “We need a change.”
Paul Atkins: A Candidate for Change
Paul Atkins, a former SEC commissioner who’s all about balance, is in the running to replace Gensler. Atkins is a digital asset supporter and reduces bureaucratic red tape to spur innovation.
Deaton is confident Atkins can lead the SEC to a more fair and transparent regime. “Paul Atkins is good, I’ll support him if selected,” Deaton said. “He’s light years ahead of Gary Gensler, who’s the worst SEC Chair in modern history.”
The Post-Gensler Landscape
Talk of new leadership has heated up since Trump won the election and said he’d fire Gensler on day one. Gensler is set to leave on January 20, 2025, the same day Trump is inaugurated.
Deaton is calling on the next SEC Chair to act fast, including investigating allegations and firing staff involved in wrong doing. Referring to the scandals under Gensler’s watch, including his ties to FTX founder Sam Bankman-Fried, Deaton said we need to get integrity back in the agency.
“Whoever becomes Chair has to go into the SEC with a blowtorch and chainsaw,” Deaton said. “They have to get rid of everyone responsible for the last four years of overreach and wrong doing.”
Toward a Pro-Innovation Framework
Paul Atkins’ approach is to reduce barriers to innovation while protecting investors, a view shared by most in the crypto industry. Advocates say regulators and industry must work together for sustainable growth.
Deaton’s endorsement of Atkins is the sentiment of the broader crypto community: clarity, accountability and support for new tech.
The Road Ahead
Atkins’ selection means the SEC gets to start over. Will it be a new era of cooperation and innovation or more of the same? That’s up to the next Chair.
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