A lawyer supporting XRP, John Deaton, has accused the US Securities and Exchange Commission (SEC) of breaking the law and causing harm to investors. Deaton claims that the SEC has consistently failed to follow the law in the Ripple lawsuit and lacks a faithful allegiance to it. He has requested Congress to subpoena the SEC and its Chair, Gary Gensler. The lawyer’s allegations stem from his reaction to the SEC issuing a regulation without congressional review. Deaton believes that the SEC has become both inept and corrupt in its approach to regulating crypto.
AI Sentiment: Neutral