Pro-XRP Lawyer Urges Action on ChokePoint 2.0, Calls Ripple SEC Case Most Critical
Prominent pro-XRP lawyer and cryptocurrency industry advocate John Deaton has offered to lead an investigation into so-called “Operation Choke Point 2.0,” which was allegedly aimed at limiting cryptocurrency companies’ access to traditional banking services . Deaton made his proposal on Jan. 4, addressing President-elect Donald Trump, Vice President J.D. Vance and other members of the incoming administration on X (formerly Twitter).
Deaton cast the investigation as a key issue that extends beyond the cryptocurrency industry, calling it a fight against the erosion of institutional integrity and the unchecked power of unelected bureaucrats. He warned that failure to challenge the actions would set a dangerous precedent in which regulators could quietly clamp down on entire industries they disapprove of, hampering innovation and economic opportunity.
“Many people, including some in the cryptocurrency space, underestimate the importance of ChokePoint 2.0. In the @Ripple case, I believe it is the most significant non-fraud @SECGov enforcement action in modern history,” he wrote.
Deaton said in the post that he was willing to lead the investigation into the alleged operation without a paycheck, saying the American public deserves more to know the truth than anyone needs another taxpayer-funded paycheck. His comments come after a major legal development in the case, with a court recently allowing Coinbase to access unredacted documents from the Federal Deposit Insurance Corporation (FDIC). The documents provide further insight into the role federal agencies may have played in the alleged operation.
Deaton’s proposal follows his recent defeat in the Massachusetts Senate race against cryptocurrency critic Sen. Elizabeth Warren. During the campaign, Deaton accused Warren of prioritizing anti-crypto policies instead of addressing critical issues facing working-class Americans.
As the United States prepares for a change of leadership with President-elect Trump, many cryptocurrency advocates hope the incoming administration will reduce the regulatory burden on the industry.
