• Senator Eric Brakey plans to introduce a bill to allow digital currency transactions in Maine State financial institutions.
• The XRP community has chosen John Deaton to defend the acceptance of digital currency in financial institutions.
• Should the bill receive approval, more individuals may adopt digital tokens for diverse transactions.
Digital Currency Transactions in Maine
Senator Eric Brakey is introducing a new bill that would allow digital currency transactions in Maine State financial institutions. The first public hearing on this matter will be held tomorrow, April 4th at 10:15 AM Eastern Time via Zoom app. This is the first time that the Maine Legislation will hear matters concerning cryptocurrencies and two digital pioneers, Caitlin Long and Tyler Lindholm, are supporting the bill’s advancement.
XRP Community Invites John Deaton
In light of this event, the XRP community has chosen attorney John Deaton as their candidate to testify before the Maine Legislators about this policy. Senator Brakey then sent a request to Deaton asking whether he could defend LD 990 before the Maine State Depository Institutions for Digital Assets. At the time of writing, however, it is unclear whether Deaton will accept this invitation or not.
Potential Benefits Of The Bill
If approved by senators and representatives, this law would pave way for more individuals to use digital tokens for various types of transactions within state borders. Moreover, it could also lead to an increase in adoption of crypto sector despite its tumultuous market condition which has been seen recently all over the world.
John Deaton’s Contribution To Ripple Case
John Deaton is already well-known among cryptocurrency enthusiasts due to his contribution towards Ripple’s legal case against US Securities Exchange Commission (SEC). His expertise and knowledge make him an ideal candidate to represent XRP before Maine Legislators and discuss potential benefits of accepting cryptocurrency into financial institutions of Maine state.
The proposed bill is expected to provide numerous advantages if passed by legislators including wider adoption of crypto sector with increased trust from users within state boundaries. As a result, John Deaton’s testimony during tomorrow’s hearing holds immense importance for further progress on this matter and might pave way for other states too looking forward towards accepting cryptocurrencies within their borders as well.