There has been a significant increase in the adoption of the crypto sector despite the tumultuous condition of the market. In a recent development, Senator Eric Brakey plans to introduce a new bill to allow digital currency transactions in Maine State financial institutions.
Brakey invited experts from the crypto industry to answer questions during the bill’s first hearing event tomorrow, April 4. Notably, the XRP community has chosen John Deaton to defend the acceptance of digital currency in financial institutions.
Should the bill receive approval, more individuals may adopt digital tokens for diverse transactions.
John Deaton And First Crypto Policy
Senator Eric Brakey’s proposed bill will approve digital currency transactions in Maine State financial institutions. In his Twitter post, Brakey noted that the bill follows the standard of Wyoming laws. Two digital pioneers, including Caitlin Long, founder of Custodia Bank, and Tyler Lindholm, AFP Wyoming state director, support the bill’s advancement.
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The XRP community is among the crypto experts to answer questions related to the industry during the first public hearing tomorrow. In light of this, the community has picked attorney John Deaton as the right candidate to defend the bill before the Maine Legislators after deliberation.
The hearing will occur via the Zoom app on April 4 at 10:15 AM Eastern Time. According to Senator Brakey, this will be the first time the Maine Legislation will hear matters concerning cryptocurrencies.
XRP enthusiasts supported the invitation, noting that Deaton is the best candidate to testify to the bill. Another user referred to Deaton’s contribution to the ongoing Ripple case.
Following the community’s attorney choice, Senator Brakey sent a request to Deaton, asking whether he could defend the cryptocurrency policy before the Maine State Depository Institutions for Digital Assets – LD 990.
Is John Deaton The Right Choice?
Deaton expressed his appreciation for Senator Brakey’s invitation and recommendation from the community. However, at the time of writing, the CryptoLaw founder is yet to accept the invitation.
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According to his Twitter bio, Deaton is a digital asset enthusiast who focuses on popular tokens, including Ethereum, XRP, Bitcoin, and blockchain technology. He had once protected the interest of XRP holders, which is evident from an amicus brief he filed in October last year.
Deaton also showed proficiency in another lawsuit between LBRY, an open-source content distribution firm, and the SEC.
Considering his ability as an attorney, and knowledge about the industry, the community expects Deaton to make valuable input before the Maine Legislators.
Featured image from Thinking Crypto and chart from Tradingview.com
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