John Deaton, a US Senate candidate and pro-XRP lawyer, has challenged Democratic presidential candidate Kamala Harris to prove her commitment to cryptocurrency. Deaton’s challenge comes in response to Harris’s recent attempts to align herself with the crypto industry while seeking endorsements from notable figures in the field.
As the incumbent Vice President and a prominent figure in the current anti-crypto administration under Joe Biden, Harris’s newfound support for Bitcoin and other cryptocurrencies has raised questions about her genuine stance.
Deaton’s primary demand is that Harris push for the resignation of Gary Gensler, the Chairman of the US Securities and Exchange Commission (SEC). He argues that Gensler’s tenure has been detrimental to the crypto community, inflicting more harm than notorious figures like Sam Bankman-Fried.
According to Deaton, Gensler’s regulatory approach, which he terms “regulation by enforcement,” has driven investors away from domestic platforms to riskier offshore alternatives, including FTX.
The SEC under Gensler’s leadership has faced criticism for failing to provide transparent communication about its interactions with FTX, despite numerous meetings with the company’s founder.
Deaton believes that removing Gensler would not only benefit Ripple XRP but also set a positive precedent for the broader crypto industry. Such a move would demonstrate Harris’s genuine support for the development of a sustainable digital asset economy.
In response to her campaign’s engagement with the crypto community, Harris has reportedly reached out to major players in the industry, such as Coinbase, Ripple Labs, and Circle, to build relationships that could support a more favorable regulatory environment.
However, the true intentions behind Harris’s sudden pro-crypto stance are being scrutinized, with some industry insiders questioning the authenticity of her support.
Ripple CEO Brad Garlinghouse has cautioned Harris to avoid associating with anti-crypto figures, reflecting a broader skepticism within the crypto community about Harris’s recent shift in position.
As Deaton continues to challenge Harris’s commitment, the broader crypto industry remains watchful of her actions and the potential implications for future regulatory policies.
