Pro-XRP Lawyer John Deaton Issues Major Call on Next SEC Chair

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As a seasoned researcher with a keen interest in the intersection of law and technology, I find John Deaton’s analysis intriguing. His choice for the next SEC Chair, Brad Bondi, seems to be rooted in the practical understanding that the crypto market demands a leader who truly grasps its complexities. Deaton’s insistence on someone with experience within and outside the SEC echoes my own beliefs that a balanced perspective is crucial for effective regulation.

John Deaton, a legal expert specializing in cryptocurrency and an XRP supporter, has examined potential contenders for the position of Chair of the U.S. Securities and Exchange Commission (SEC), should Gary Gensler step down. Deaton’s preferred candidate is Brad Bondi, who currently serves as Global Co-Chair of Investigations and White Collar Defense at law firm Paul Hastings.

Why Brad Bondi is Deaton’s choice

As a researcher delving into the world of digital currencies, I find myself closely watching developments surrounding XRP, particularly in light of recent speculations swirling about SEC Chairman Gensler potentially choosing to step down from his position. This move, if it were to occur, could have significant implications for the broader cryptocurrency landscape.

There’s been growing speculation that Gary Gensler may step down as the SEC Chairman before the new administration takes office on January 20, 2025. However, it’s important to note that his tenure as SEC chairman doesn’t end until 2026, despite some demands for him to resign.

In a recent article, Deaton outlined reasons as to why Bondi could potentially be selected from among the finalists for the SEC chair position, with Atkins, Gallagher, and Stebbins also in the running.

As reported by Eleanor Terrett, the potential candidates under consideration are: Paul Atkins, Brad Bondi, Dan Gallagher, and Bob Stebbins.

— John E Deaton (@JohnEDeaton1) November 18, 2024

As per Deaton’s perspective, his preferred candidate, Bondi, seems ideally suited for the position of the next SEC chair and could potentially bring about significant changes that would be advantageous to all parties involved. Deaton underscores the necessity of a person well-versed in the digital currency market for this role. He reinforces this point by citing John Reed Stark, a former head of the SEC Office of Internet Enforcement, who asserted:

Brad [Bondi] aims to change the perception of the SEC from an unfairly criticized schoolyard bully into a respected, thoughtful, and crypto-friendly institution while maintaining a balanced approach. Among these nominees, Brad is the most likely to bring about significant changes at the SEC.

Regarding Bondi’s role within the SEC yet his opposition to it, Deaton asserts that Bondi has a clear grasp of the distinctions in the crypto sector. In essence, Deaton claims that Bondi recognizes that decentralized finance (DeFi) and self-custody fall beyond the purview of the SEC’s authority.

Will Gary Gensler step down?

Deaton highlighted the importance of choosing the right candidate for SEC chair in the upcoming administration, as this decision could pave the way for America to usher in a new golden age and establish itself as a global leader in the realm of cryptocurrencies.

While individuals are welcome to put forth suggestions for the new SEC head, it’s ultimately up to the incoming administration to make the final decision. It remains to be seen whether Gensler will step down before January 20, 2025, or if someone else will take on the role as chairman in the future.

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2024-11-18 15:34