John Deaton has commented on Ripple CEO’s recent statement about US expansion
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The CryptoLaw founder reminded the community about the “gross government overreach and selective enforcement” that Ripple had to struggle with in court for approximately four years, defending itself against the SEC and its chairman Gary Gensler who is to step down from his position at the end of January. Ripple scored two big victories – in July 2023 and then in late 2024 as it proved that XRP was not a security and reduced the $2 billion fine demanded by the SEC down to $125 million.
The only solution to many of the issues mentioned by Deaton is the elimination of bureaucracy, of the red tape that rules in the US. He gave the situation with housing shortage crisis in the country as an example and the necessity to wait for “two years to pull necessary permits.”
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