- John Deaton supports Paul Atkins as the next SEC Chair to succeed Gary Gensler.
- Deaton accuses the SEC under Gensler of abusing power and stifling innovation in crypto.
- Alleging the SEC of being unethical, Deaton urges the potential SEC Chair to ensure transparency.
Pro-XRP attorney John Deaton voiced support for Paul Atkins to replace Gary Gensler as the next Chair of the SEC. Deaton has been quite vocal of Gensler’s leadership, accusing the agency of enforcing oppressive policies that have stifled innovation within crypto. He was also the one to flag Gensler’s abuse of power.
In a November 28 X post, Deaton backed Atkins following rumors of President-elect Donald Trump considering him for the SEC Chair role. Deaton suggested that Atkins could establish a more transparent regulatory framework, spearheading bold reforms aligned with initiatives by Elon Musk and Vivek Ramaswamy under the Department of Government Efficiency (DOGE)
Is Atkins the Only Favorite?
Fox Business journalist Eleanor Terrett described growing anticipation for Atkins’ potential appointment after Gensler’s resignation on January 20, 2025. Terrett referred to Atkins as the “current favorite” for the role. Atkins’ extensive experience includes working with two former SEC Chairs, Richard C. Breeden and Arthur Levitt, and serving as an SEC commissioner under President George W. Bush.
Read also: Crypto Lawyer Deaton Condemns Trump’s SEC and Treasury Picks
Deaton accused the SEC of offering minimal guidance to crypto firms, hindering industry expansion. He stated, “SEC lawyers didn’t just target crypto, bully small businesses, and engage in regulation by enforcement—they acted unethically.”
Further, Deaton expressed hope that the next SEC Chair, whether Brad Bondi, Brian Brooks, or Paul Atkins, will drastically reform the agency. He emphasized the need to overhaul the agency, with the new leader addressing issues transparently and ensuring operations are legally and ethically sound.
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