Pro-XRP lawyer John Deaton has been asked to testify in favor of a new bill in Maine that aims to support the adoption of cryptocurrencies and digital assets.
Maine Senator Eric Brakey says he will be presenting L.D. 990 to the Maine Financial Services Committee on April 4th.
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.
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.”
At time of writing, Deaton hasn’t officially confirmed whether he will appear to testify, but he told Brakey that he would get in touch with him to discuss further.
Deaton has been an instrumental part 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 represented XRP holders as an amicus curiae last year and continues to follow the case closely.
You can register to testify for L.D. 990 here.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Lidi Di