Claim BonusXRP Lawyer Calls To Prioritize Memecoin Regulation Over SAB 121, Here’s Why
Highlights
- John Deaton prioritizes the need for memecoin regulation over SAB 121 legislation.
- Experts raise concern over the potential impact of Trump's speculative memecoin launch.
- Bill Morgan highlights how the TRUMP memecoin will affect the XRP lawsuit.
US President-elect Donald Trump’s launch of the TRUMP memecoin has sent shockwaves through the crypto market, sparking debates on memecoin regulation. Crypto experts and industry leaders raise concerns over politicians’ unfair market advantage, highlighting the lack of regulatory clarity.
Pro-XRP lawyer John Deaton underscored the priority of memecoin regulation over other concerns, including SAB 121 legislation. Trump’s surprise launch of the memecoin ahead of his presidential inauguration has ignited a heated discussion about the pressing need for clearer regulations in the crypto space.
XRP Lawyer John Deaton Pushes for Urgent Memecoin Regulation
In a recent X post, John Deaton stressed the urgency in implementing memecoin regulations prompted by the frenzy surrounding Trump’s memecoin launch.
Deaton stated that he previously believed SAB 121 stablecoin legislation, CFTC oversight, and tax reform were the immediate areas requiring attention from the Trump administration and Congress. Correcting his earlier stance, he wrote, “I stand corrected: it’s Meme Coin Regulation.”
Backlash Grows Over Memecoin Frenzy
Notably, Nic Carter, who calls himself a devoted Trump supporter, expressed his disagreement with Trump’s memecoin launch. Calling the move unreasonable, Nic Carter stated, “They’re plumbing new depths of idiocy with the memecoin launch.”
Another significant personality who urged action for memecoin regulation is the US representative Ro Khanna. He recommended banning elected officials from owning highly speculative memecoins. Reflecting on the TRUMP memecoin launch, Khanna wrote:
Elected officials must be barred from having meme coins by law. Meme coins are highly speculative and like gambling must be regulated by the SEC. They are neither neutral money (not controlled by insiders) nor platforms for innovation.
Trump’s Memecoin Promotion Impacts XRP Lawsuit
Deaton’s push for memecoin regulations follows concerns raised by XRP advocate Bill Morgan about the potential TRUMP’s impact on XRP lawsuit. According to Morgan, the incoming President’s unprecedented launch of the token emphasizes the need for clear crypto guidelines.
With XRP lawyer like Deaton and Morgan expressing concerns over the TRUMP token launch, its impact extends beyond the crypto market. As the situation unfolds, it is clear that the urge for clear regulations has never been more pressing.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Polymarket Sues Massachusetts Amid Prediction Market Crackdown
- CLARITY Act: Bessent Slams Coinbase CEO, Calls for Compromise in White House Meeting Today
- Crypto Traders Reduce Fed Rate Cut Expectations Even as Expert Calls Fed Chair Nominee Kevin Warsh ‘Dovish’
- Crypto, Banks Clash Over Fed’s Proposed ‘Skinny’ Accounts Ahead of White House Crypto Meeting
- XRP News: Ripple Expands Custody Services to Ethereum and Solana Staking
- Cardano Price Prediction as Bitcoin Stuggles Around $70k
- Bitcoin Price at Risk of Falling to $60k as Goldman Sachs Issues Major Warning on US Stocks
- Pi Network Price Outlook Ahead of This Week’s 82M Token Unlock: What’s Next for Pi?
- Bitcoin and XRP Price Prediction as China Calls on Banks to Sell US Treasuries
- Ethereum Price Prediction Ahead of Feb 10 White House Stablecoin Meeting
- Cardano Price Prediction as Midnight Token Soars 15%
