Crypto attorney and political figure John E. Deaton has publicly backed Ripple CEO Brad Garlinghouse's warning that the United States cannot afford a repeat of the regulatory approach seen under SEC Chair Gary Gensler. In a post on X, Deaton argued that the recent progress in regulatory guidance and clarity for the crypto sector is vulnerable and could be easily reversed by a future administration unless protections are solidified through formal legislation.
"One thing @bgarlinghouse said to @MariaBartiromo that I completely agree with – is that American companies and our financial markets cannot afford to experience Gensler 2.0. And the only way to guarantee that we don’t – is by passing legislation," Deaton stated. He emphasized that regulatory clarity dependent on the discretion of agency leadership, rather than laws passed by Congress, leaves the entire industry at risk.
The core issue, as framed by both Deaton and Garlinghouse, is a systemic policy risk for the broader crypto industry, not just individual companies. Deaton's position highlights that without durable, codified rules, the market faces continued uncertainty. Shifting political priorities and the potential for a return to aggressive, enforcement-driven policies could stifle innovation and drive investment away from the United States.
The remarks underscore a critical juncture for U.S. crypto policy: whether lawmakers will act to establish a legislative framework that provides long-term certainty and outlasts changes in regulatory leadership. For now, the message reinforces the industry's call for stable rules over another period of regulatory ambiguity and enforcement actions.
