Ripple Lawyer John Deaton Joins DOGE's SEC Investigation

John Deaton, a lawyer known for his support of Ripple in its legal battle with the Securities and Exchange Commission (SEC), has expressed interest in collaborating with the Department of Government Efficiency (DOGE), led by Elon Musk. This department is currently investigating government agencies for excessive spending, corruption, and other related issues, which has garnered attention from crypto users due to the SEC's history of regulatory actions under the Biden administration.

DOGE has expanded its investigations to include the SEC, prompting a response from the crypto community. A newly created account, DOGE SEC, called on the public to share insights into fraud and waste within the financial regulator. Deaton, who ran for Senate as a pro-crypto candidate, responded to the call, stating that he has exposed issues within the SEC in recent years and is willing to assist DOGE in its investigation.

Crypto market stakeholders have suggested potential areas for DOGE to focus on, including the harsh treatment of startups by the SEC. The XRP community, in particular, has backed DOGE's efforts, with some calling for an end to the lawsuit against Ripple. The SEC filed a lawsuit against Ripple and two of its executives in 2020, alleging unregistered securities offerings.

The previous administration was known for its aggressive stance against the crypto industry, with numerous lawsuits and harsh policies. However, since the inauguration of the current administration, there has been a shift in favor of the market. The President has made promises to promote innovation in the sector, with the formation of the SEC's task force and the appointment of market enthusiasts. Additionally, states have introduced Strategic Bitcoin Reserve bills similar to Senator Lummis’s proposed law.

Deaton's decision to target the SEC follows a period of intense scrutiny for Musk, who has been a vocal supporter of DOGE. The SEC has been investigating Musk's tweets and public statements about DOGE, which have been accused of manipulating the market. This investigation has raised questions about the SEC's consistency in enforcing regulations across different cryptocurrencies.

The pro-XRP lawyer's strategy involves highlighting the discrepancies in the SEC's treatment of various cryptocurrencies. He plans to use the DOGE case as a benchmark to demonstrate how the SEC's actions against XRP have been disproportionately harsh. The lawyer argues that the SEC's focus on XRP, while largely ignoring DOGE, suggests a bias that needs to be addressed.

This development adds another layer of complexity to the ongoing legal battles between the SEC and the cryptocurrency industry. Deaton's efforts to expose the SEC could potentially influence public opinion and regulatory policies, pushing for a more consistent and fair approach to cryptocurrency regulations. The outcome of this legal maneuver could have far-reaching implications for the future of digital assets and the regulatory framework governing them.