XRP Lawyer John Deaton Criticizes FSC Chair McHenry Over SEC Subpoena Delay
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In the ongoing legal battle between SEC & XRP, a prominent lawyer, John Deaton, representing XRP, has made a bold accusation. He blames the U.S. Representative Patrick McHenry, a key figure in the Financial Services Committee (FSC) for failing to issue a subpoena to the Chair of the U.S. Securities and Exchange Commission (SEC).
John Criticize U.S. Representative
John Deaton, known for representing thousands of XRP holders in the SEC v. Ripple case, has blamed the U.S. Representative Patrick McHenry, a key figure in the Financial Services Committee (FSC) for his inaction.
Deaton signifies that the failure to issue a subpoena to the SEC Chair is a big deal for XRP. He suggests that we missed the opportunity to clarify critical aspects of the case.
Despite being a supporter of McHenry, Deaton expressed his disappointment, highlighting the absence of a subpoena to SEC Chair Gary Gensler, who refused to comply with a single congressional oversight request.
I’ve been a supporter of @PatrickMcHenry. But he has yet to issue a subpoena to @GaryGensler, who refuses to comply with a single congressional oversight request. Let’s be honest, there should’ve been multiple subpoenas issued to Gensler and the @SECGov by now. https://t.co/24nERoyu83
— John E Deaton (@JohnEDeaton1) November 14, 2023
Meanwhile, Deaton’s comments come amidst allegations against Gensler of shielding China within U.S. capital markets. Top journalist Brian Costello accused McHenry of allowing Gensler to provide a shield for China, potentially supporting economic growth and military operations.
Last month, House Republicans issued a warning to subpoena the SEC for information related to its regulatory efforts.
Similarly, James Comer, Chair of the House Oversight and Accountability Committee, accused Gensler of obstructing Congressional oversight. Comer highlighted the possibility of compulsory processes, including subpoenas, if Gensler does not cooperate.
@PatrickMcHenry, you’re allowing @GaryGensler to shield China and obscure a criminal racket within the US capital market to safeguard donors. This supports China’s deceptive economic growth, and fuels their military. You and you alone as @FinancialCmte Chairman have the… https://t.co/WBX4IrNqB7
— Brian Costello (@bpcostello) November 14, 2023
McHenry’s Stand
U.S. Representative McHenry had previously expressed frustration with Gensler’s lack of compliance with oversight requests, dating back to September. McHenry emphasized that the SEC is not above the law and warned of potential subpoenas if Gensler continues to resist oversight. However, as of now, no subpoena has been issued by McHenry.
The XRP legal landscape continues to evolve as John Deaton criticizes Representative McHenry for not issuing a subpoena to SEC Chair Gensler.
Filed under: Bitcoin - @ November 15, 2023 12:13 pm