XRP Holder’s Lawyer Reveals One Unique Thing About His Clients

XRP holder’s lawyer, John Deaton has revealed one of the most important things he loved about the community members he represents in the yet-to-be-concluded legal battle between Ripple Labs and the United States Securities and Exchange Commission (SEC).

The Deaton Perception of XRP Holders

According to Deaton, the 75,000 XRP holders are a mix of a very diverse set of individuals composed of Republicans, Democrats, Independents, Progressives, Conservatives, Capitalists, Socialists, and Libertarians amongst others. 

This diversity pushed Deaton to opine that the whole crypto narrative should be a bipartisan subject. Deaton made these comments in response to earlier tweets from Jason Gottlieb who noted that though he is a Democrat, he believes in the progressive case for crypto, in contrast to the perceived crackdown on the industry as championed by Senator Elizabeth Warren and SEC Chairman, Gary Gensler.

One the best things about the 75K #XRP holders who joined together, is the diversity. Republicans, Democrats, Independents, Progressives, Conservatives, Capitalists, Socialists, Libertarians, etc. Crypto should be a bipartisan issue. When it appeared to me that the incumbent… https://t.co/rXDcWkjfnl

— John E Deaton (@JohnEDeaton1) July 27, 2023

Deaton said he has always believed that the anti-crypto crackdown by the Democratic Party is a mistake and an extremely disappointing twist of events. With the House passing one of the most progressive crypto regulatory bills with support from 6 Democrats, the pro-crypto lawyer said a big blow has been dealt “to the Warren/Gensler Anti-Crypto Campaign.”

The XRP holder’s lawyer is optimistic that though the support for the crypto Bill might not mean much at this time, it represents a crack in the wall that can change the dynamics on the eve of an election year.

Will Crypto Regulation Ease in the US?

One major prayer by industry stakeholders is that the crypto regulation in the United States, being the most important market for the digital currency ecosystem will ease up in the near future.

This anticipation is first expected to change the course of approval for a spot Bitcoin (BTC) Exchange Traded Fund (ETF) product. According to analysis from industry veterans, the entry of financial giant, BlackRock Inc into the spot Bitcoin ETF race might make the regulators change their stance, drawing on the reputation of the firm.

Over the past few weeks, other asset management firms including Bitwise, and Fidelity Investments have also applied for a Bitcoin ETF, a wave of interest that might help change the narrative for the ecosystem in the near future.