In their recent statement, XRP attorneys John Deaton and Bill Morgan questioned the actions of the SEC, highlighting the reluctance of the Republican members of the House Financial Services Committee to issue a court subpoena and calling for Congressional intervention.
XRP Attorney’s False Statement Allegation
A federal judge in the US criticized the SEC for its “materially false and misleading representations” in a case involving the crypto firm Debt Box. The judge’s criticism stemmed from concerns about the freezing of millions of dollars in assets associated with the crypto company by the SEC.
Furthermore, the court demanded an explanation from the SEC and discussed sanctions for a situation that seems to violate the trust the institution should create.
Meanwhile, XRP attorney John E Deaton made a statement on social media, expressing no surprise at the judge’s evaluation of the sanctions and accusing SEC attorneys such as Jorge Tenreiro and GurbirGrewalNJ of intentionally misleading the court.
Call to Action from XRP Attorneys
An important call was made by John E. Deaton, specifically addressing the Republican members of the House Financial Services Committee, especially Chairman Patrick McHenry. The call urged the Financial Services Committee to fulfill its oversight role regarding the SEC and its Chairman Gary Gensler and emphasized the need for a congressional subpoena.
According to Deaton, Gary Gensler and the SEC lack adherence to the law and pose a significant threat to the crypto industry. Therefore, he called on Chairman Patrick McHenry and the Financial Services Committee to take decisive action.
Additionally, Attorney Bill Morgan expressed his surprise at the Financial Services Committee’s reluctance to issue a congressional subpoena, pointing out potential political reasons for their stance.