US Senator Invites Pro-XRP Attorney to Testify to First Crypto Policy for Maine State

XRP community says attorney Deaton is most suited to testify at the hearing.

Senator Eric Brakey has invited pro-XRP attorney John Deaton to testify to a bill that will authorize Maine State financial institutions to accept cryptocurrency deposits.

In a tweet today, Senator Brakey said he would present a bill, L.D. 990, to the Maine State Financial Service Committee. According to Senator Brakey, the bill is modeled on Wyoming laws and advanced by two digital pioneers- Custodia Bank founder Caitlin Long and Tyler Lindholm, the state director for AFP Wyoming.

Senator Brakey added that the event would be held tomorrow at 10:15 AM (ET) and is open to the public via Zoom.

“This will be the first-ever public hearing on cryptocurrency in the Maine Legislation,” said Sen. Brakey.

To ensure the bill gets approved, Senator Brakey said he is lining up several industry experts to testify and take crypto-related questions from the committee. He asked his followers to suggest names of industry stakeholders with relevant expertise to testify at the hearing.

I am still working to line up experts to present testimony and take questions from the committee.

To all my #Bitcoin and #Blockchain followers, is there anyone you think I should be inviting to speak to the committee?

If so, tag them with a reply.

— Sen. Eric Brakey ? (@SenatorBrakey) April 3, 2023

XRP Community Picks Deaton

Responding to the call, an XRP enthusiast urged Senator Brakey to invite attorney Deaton for the testimony. The user highlighted attorney Deaton’s efforts in the ongoing Ripple vs. SEC case, especially the amicus brief filed on behalf of over 77K XRP holders. 

Senator Brakey publicly asked whether Deaton would be open to testifying at the hearing. 

“[John Deaton], would you be able to testify this Tuesday morning to the first proposed cryptocurrency policy for Maine — LD 990, Special Purpose Depository Institutions for Digital Assets,” Senator Brakey quizzed.

Several XRP enthusiasts have backed the invitation, saying attorney Deaton is the most suitable person for the testimony.

No one better suited to discuss crypto than John Deaton!

— Bob Fahy (@rfahy99) April 3, 2023

There's no one better than @JohnEDeaton1 to testify ?

— Crypto Adviser (@Crypto__Advisor) April 3, 2023

Senator Brakey Invites Deaton

Brakey thanked the community for all the suggestions and officially invited Deaton for the task.

Thank you for the recommendation.@JohnEDeaton1, would you be able to testify this Tuesday morning to the first proposed cryptocurrency policy for Maine — LD 990, Special Purpose Depository Institutions for Digital Assets.

— Sen. Eric Brakey ? (@SenatorBrakey) April 3, 2023

At press time, the CryptoLaw founder has not disclosed whether he will accept the invitation. Notably, attorney Deaton is among the stakeholders pushing for favorable regulations for the US crypto industry.

Attorney Deaton’s Twitter bio reads that he is an enthusiast of Bitcoin, Ethereum, XRP, and blockchain. However, his recent focus is on the ongoing Ripple vs. SEC lawsuit, especially protecting the interest of XRP holders in the case.

Last year, attorney Deaton filed an amicus brief for more than 77,000 holders. The rationale behind the move was to protect XRP holders’ interest and ensure that the coin’s future secondary market sales are not classed as securities.

It is worth noting that attorney Deaton was also instrumental in the lawsuit between open source content distribution company LBRY and the SEC. As reported, Deaton, who represented tech journalist Naomi Brockwell, helped to convince the Judge to clarify that secondary market sales of LBRY Credit (LBC), the native asset of LBRY, do not constitute a security.

Although Deaton believes the only way to get clear guidelines for the US crypto industry is through legal battles, his testimony at the hearing could play a vital role in ushering in more friendly regulations for the asset class.