Attorney John Deaton, who supports XRP, agrees with Ripple CEO Brad Garlinghouse’s statement that the U.S. needs to avoid repeating the policies of Gary Gensler, the former head of the Securities and Exchange Commission (SEC).
In a recent tweet, Angus Deaton argued that the current clarity and guidance for the crypto industry aren’t permanent and could be reversed by a future administration. He believes the only way to secure the industry’s future is to pass laws that specifically support crypto.
Ripple CEO on U.S. Weaponization of Crypto Policy
Angus Deaton’s comments align with those made by Ripple executive Brad Garlinghouse. Garlinghouse recently appeared on Fox Business with Maria Bartiromo, where he cautioned against using cryptocurrency policy as a political tool in the U.S.
Brad Garlinghouse believes the Biden administration’s actions against cryptocurrency have been misguided. He argues that trying to heavily regulate this new industry is like trying to stop email – it could stifle progress. Instead of creating clear rules, Garlinghouse says agencies like the SEC have resorted to lawsuits, which has led many crypto companies to move their operations to other countries.
Ripple’s CEO argues that the U.S. needs to avoid repeating past regulatory missteps – specifically referencing SEC Chair Gary Gensler – to foster growth in innovative technologies like blockchain. He notes that the previous Trump administration made positive steps toward clearer rules for digital assets.
The SEC recently stated that most cryptocurrencies aren’t securities, which is a positive development, but Ripple CEO Brad Garlinghouse believes more needs to be done. He argues that passing laws like the CLARITY Act would prevent future regulatory uncertainty similar to what happened with previous SEC leadership. Garlinghouse now expects the CLARITY Act to be passed by May, a slight delay from his original estimate of 30 days prior.
Deaton Agrees With Garlinghouse
Agreeing with Garlinghouse, Deaton explained that while the CLARITY Act might encourage big banks and financial institutions to get involved with crypto, he still views them with suspicion. He believes banks exert undue influence through politicians who are loyal to their interests.
The lawyer pointed out that the Clarity Act seemed to prioritize protecting banks over addressing issues with stablecoin yields, suggesting a bias towards established financial institutions.
Despite this, Deaton thinks the possibility of another Jay Clayton-like figure becoming SEC chair should push both sides to quickly reach an agreement and officially establish the CLARITY Act into law.
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2026-03-30 13:28