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- Pro-XRP lawyer John Deaton has drawn differences in the crypto regulation measures between Japan and the United States.
- Industry leaders like Mark Cuban have criticized the US regulatory terrain for being unfavorable to crypto.
- Deaton is taking the fight to Washington elites, announcing his candidacy for Massachusetts Senate.
John Deaton, a pro-XRP lawyer, and Mark Cuban have spotlighted the differences in crypto regulation between the US and Japan. Deaton is also taking the fight to Washington elites, announcing his candidacy for Massachusetts Senate.
Crypto Regulation: Between the US and Japan
Many industry leaders have called out the unfavorable crypto regulation regime in the United States. Comparing it with Japan, Mark Cuban and pro-XRP lawyer John Deaton believe the US needs to do much better. They noted that while the US classified XRP as a security, Japan, Switzerland, Singapore, and the United Kingdom labeled the coin a non-security.
Fighting the System
Many crypto ecosystem leaders believe the right regulation can come to crypto if the industry is represented in Congress. To take up this challenge, John Deaton has announced his candidacy for Massachusetts Senate in a bid to displace Sen Elizabeth Warren, a known critic of cryptocurrencies. Many crypto heavyweights are backing Deaton’s bid for Senate in hopes he would fight for better crypto regulation.
Conclusion
The crypto regulation landscape in the US remains a grey area, with the SEC continually labeling some altcoins securities. Industry leaders like John Deaton and Mark Cuban are advocating for better regulation, comparing the US’s approach unfavorably to that of countries like Japan. Deaton’s bid for Senate represents a significant step towards achieving better crypto regulation in the US.
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