News View Non-AMP

John Deaton Emphasizes Need For Modernised Regulatory Framework, Criticizes SEC Over Outdated Laws

Published by
Nidhi Kolhapur

In a latest X post, the pro-XRP lawyer, John Deaton has expressed concerns over the outdated regulatory framework applied by the US SEC in response to Michael Saylor’s interview. He shared that the SEC should be focused on ‘fraud, pump and dump schemes and the bad guys.’

The Need For Modernised Regulatory Framework

He pointed out that we are essentially applying 1933 disclosure laws in 2024 to modern-day technologies like AI, Robotics, Automation, and Blockchain and that the existing disclosure laws were meant to reduce the asymmetries between those offering investments and those acquiring investments. He stressed that this was during a time when technologies like the internet did not exist. He asserted that the SEC should focus on clear and straightforward principles to guide the industry.

“People like Gary Gensler, Jay Clayton, and Bob Stebbins prefer the law and rules of the road to be vague. WE NEED REFORMERS AS REGULATORS LIKE Brian Brooks and Brad Bondi,” he noted. 

Deaton’s remarks highlight the need for a modernized framework that accommodates emerging technologies.

Deaton’s ‘Dream Team’

Amidst the speculations of the current SEC Chair Gary Gensler’s resignation, Deaton has endorsed Brad Bondi as a suitable replacement. Deaton noted that Bondi represents a more balanced and progressive approach to regulatory oversight and voiced skepticism over other contenders, such as Bob Stebbins. 

The US Treasury Secretary and the SEC Chairman are the two most important remaining positions to be filled. Deaton emphasized that these two selections must be compatible and complement each other to truly implement the America First Agenda envisioned by President Trump. 

Elon Musk had recently suggested that Howard Lutnick might be the right choice for Treasury secretary but had also suggested others to provide input on who President Trump should select to be America’s next Treasury secretary.

Deaton expressed his views by stating:

“The Dream Team that would foster innovation in America, securing its place as the number one market in the world, causing an economic explosion in our capital, crypto, and IPO markets, while bolstering demand for the USD and ensuring its dominance around the world, while, at the same time, shaking things up and reforming the agencies is Brian Brooks as Treasury Secretary and Brad Bondi as SECGov Chairman.” 

Nidhi Kolhapur

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

Recent Posts

What XRP Users Are Talking About This Week: Latest Rumors, Predictions & Debates

The XRP community is as fiery as ever, with price debates, predictions, and arguments lighting…

June 24, 2025

Nasdaq-Listed Nano Labs Plans to Buy $1B in BNB — Aiming for 10% Supply Takeover!

China-based Web3 firm Nano Labs is making a daring move by targeting Binance Coin (BNB).…

June 24, 2025

Bitcoin Price Holds Strong at $105K: Short Squeeze Ahead?

Bitcoin’s price held $105k in support on Tuesday, with reduced geopolitical tensions in the Middle…

June 24, 2025

Can Shiba Inu (SHIB) Price Hit $0.00003 Level!

The Shiba Inu community has been watching SHIB’s price move up and down recently, mainly…

June 24, 2025

Polymarket Nears $200M Funding Round, Valuation to Hit $1B

Decentralized prediction platform Polymarket is reportedly on the verge of closing a $200 million funding…

June 24, 2025

Can This Cheap Crypto Token Hit $1 Before Cardano (ADA)? $11.1M Raised Quickly Has Holders Excited

Mutuum Finance (MUTM) is igniting fervor in the crypto market, surging through Phase 5 of…

June 24, 2025