John Deaton, the lawyer representing over 75,000 XRP holders, has been asked to testify in favor of a new bill in Maine, which aims to support the crypto adoption.
Maine Senator Eric Brakey says he will present L.D. 990 to the Maine Financial Services Committee on the 4th of April.
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Brakey says the bill is modeled after a law in Wyoming, authorizing private financial institutions in Maine to accept deposits of cryptocurrencies such as Bitcoin with 100% reserve requirements.
The Senator asked his Twitter following to point him in the direction of crypto or blockchain experts that could come in handy for testifying in favor of the bill to Maine’s regulators.
After overwhelming demand in the reply section, Brakey addressed Deaton.
“Thank you for the recommendation.
John Deaton,
Would you be able to testify this Tuesday morning to the first proposed cryptocurrency policy for Maine — LD 990, Special Purpose Depository Institutions for Digital Assets.”
Although Deaton did not officially confirm whether he will appear to testify, he told Brakey that he would get in touch with him to discuss further.
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Deaton has been instrumental in Ripple’s legal battle against the U.S. Securities and Exchange Commission (SEC), predicated on allegations that the firm sold XRP as an unregistered security.
The lawyer has been representing over 75,000 XRP holders in the ongoing Ripple-SEC lawsuit and continues to follow the case closely.
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