The U.S. Securities and Exchange Commission (SEC) is in the spotlight with calls for reform in cryptocurrency regulations. Pro-XRP ($1.92) attorney John Deaton presented four essential reform proposals to the new SEC chairman, Paul Atkins. Deaton emphasized that the SEC must adhere to principles of transparency and fairness, particularly criticizing the tenure of former SEC chairman Gary Gensler.
Debt Box Scandal and Call for Management Reform
Deaton stated that the SEC must first correct its internal structure. He urged Atkins to remove officials implicated in the Debt Box scandal on his first day in office. “As long as these individuals remain in their positions, the SEC’s credibility will be compromised. We cannot overlook ethical violations,” he said.
Deaton considers this step a fundamental starting point for restructuring the SEC. He also called for tighter internal oversight mechanisms to prevent unethical behavior.
“Paul Atkins cannot achieve success without cleaning up the current leadership structure of the SEC,” Deaton asserted, noting that reforms must be swift and effective.
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