Chair

John Deaton, a lawyer representing 75k XRP investors impacted by the <a href="https://coingape.com/tag/ripple-vs-sec" rel="noopener noreferrer nofollow">U.S. SEC vs Ripple Labs</a> case, took to X in response to the U.S. Securities and Exchange Commission (SEC) not complying with the law in <a href="https://coingape.com/block-harmful-us-sec-crypto-accounting-rule-republican-lawmakers/" rel="noopener noreferrer nofollow">issuing SAB 121</a>. The Government Accountability Office (GAO) finds that SAB 121 by the U.S. SEC was drafted with no input from regulators and the public.<h2 id="xrp-laywer-reacts-to-sec-breaking-the-law">XRP Laywer Reacts To SEC Breaking The Law</h2>Pro-XRP lawyer John Deaton in a post on X said it is a clear statement from the U.S. GAO that the Securities and Exchange Commission (SEC) under Chair Gay Gensler broke the law.Reacting to the SEC issuing SAB 121 without congressional review, Deaton highlighted the mistakes the SEC voluntarily made against crypto, hurting investors rather than protecting them.<blockquote>“It was an incredible statement for a federal judge to make. I was shocked at the little attention MSM paid to such a shocking statement. Here’s what I can say with great conviction: Today, the SEC does more to hurt investors than it does to protect investors. It has become both an inept and corrupt organization.”</blockquote>In addition, he argues that the SEC has consistently failed to follow the law when it comes to the Ripple lawsuit. Federal judges literally stated the SEC’s enforcement lawyers and the SEC leadership as “hypocrites” for their irrational approach towards regulating crypto. He also but they also “lack a faithful allegiance to the law.”<a href="https://coingape.com/sec-interlocutory-appeal-will-get-rejected-xrp-lawyer/" rel="noopener noreferrer nofollow">Federal judges have called</a> the US SEC’s claims “arbitrary and capricious” in the Grayscale lawsuit and Judge Netburn in the Ripple XRP lawsuit used the word “hypocrisy” to describe the SEC’s inconsistent positions.Read More: <a href="https://coingape.com/ripple-xrp-q3-report-shows-5-growth-in-us-exchange-trade/" rel="noopener noreferrer nofollow">Ripple Q3 Report Shows 5% US Exchange Growth Amid Legal Win</a><h2 id="xrp-price-continues-rally">XRP Price Continues Rally</h2><a href="https://coingape.com/price/xrp" rel="noopener noreferrer nofollow">XRP price</a> jumped more than 0.4% in the past 24 hours, continuing its rally in the earlier weeks. The price has increased nearly 20% last month, with the price currently trading at $0.6017.<figure id="attachment_163063" class="wp-caption aligncenter"><img class="size-full wp-image-163063" src="https://coingape.com/wp-content/uploads/2023/11/Screen-Shot-2023-11-01-at-11.12.46-PM.png" alt="XRP Price Breaks $0.6 " width="708" height="421"><figcaption id="caption-attachment-163063" class="wp-caption-text"> XRP Price Breaks $0.6 </figcaption></figure>The 24-hour low and high are $0.582 and $0.612, respectively. However, trading volume has decreased ahead of the U.S. Fed <a href="https://coingape.com/crypto-market-braces-for-volatility-with-fomc-decision-in-focus/" rel="noopener noreferrer nofollow">rate hike decision</a>. As per Coingape news, <a href="https://coingape.com/xrp-price-prediction-as-bulls-pick-up-the-pace-above-0-6-can-hit-it-2-in-november/" rel="noopener noreferrer nofollow">XRP price is lined for a breakout above $1</a> and shall beak $2 in November 2023.Also Read:&nbsp;<ul><li><a href="https://coingape.com/binance-delisting-ada-matic-shib-luna-lunc-18-other-crypto-margin-pairs/" rel="noopener noreferrer nofollow">Binance Delisting ADA, MATIC, SHIB, LUNA, LUNC &amp; 18 Other Crypto Margin Pairs</a></li><li><a href="https://coingape.com/binance-terra-luna-classic-lunc-burn-40-billion/" rel="noopener noreferrer nofollow">Binance’s Terra Luna Classic (LUNC) Burn Reaches 40 Billion</a></li><li><a href="https://coingape.com/openai-rival-baidu-unveils-chatbot-ernies-paid-version/" rel="noopener noreferrer nofollow">OpenAI Rival Baidu Unveils Chatbot Ernie’s Paid Version</a></li></ul>The post <a href="https://coingape.com/xrp-lawyer-deaton-requests-congress-to-subpoena-us-sec-and-chair-gary-gensler/" rel="noopener noreferrer nofollow">XRP News: John Deaton Requests Congress To Subpoena US SEC And Gary Gensler</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

XRP News: John Deaton Requests Congress To Subpoena US SEC And Gary Gensler

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