LAL Live: John Deaton of Crypto-Law.us, the SEC and Agency Capture + Pizza Talk (NPS July 1)

Ahead of the 3-day weekend, Norm thanks listeners for keeping him around through 9 weeks of the Norm Pattis Show. For all of you loyal LAL listeners, our gratitude knows no bounds. Thank you for setting out on this journey with us. Norm opens the show talking about his disappointment with the USA Today article naming the Top 50 Pizzerias in the United States—where is the New Haven representation?! Incredible.  A local listener calls in to tell Norm about her favorite local spots and toppings, which sets off a tidal wave of pizza talk. Another listener calls in to share his favorite local pizza shop and toppings and then asks Norm to explain a legal perspective on the Cassidy Hutchinson congressional testimony that apparently conflicts with the position of the Secret Service. The main event for this episode is our guest, John Deaton, founder of Deaton Law Firm and Crypto-Law.us. Norm has John on talk about a letter that John wrote to a Senator just recently detailing the alleged  Securities and Exchange Commission's unfair and abusive treatment of Ripple and holders of XRP.  The key question, as we have addressed before, is whether digital assets like Etherium and XRP are considered securities for purposes of investment and regulation. John details how absurd the treatment of XRP is—could every holder of XRP in the world today be guilty of transacting unlawfully in unregistered securities? This is a serious question, given the SEC's public position against Ripple, its founders, and the token XRP itself. Are crypto/digital assets better regarded as commodities or securities? Norm and John discuss the concept of agency capture and what it means the in context of the SEC, its commissioners, former commissioners, and the entities for whom the SEC apparently has acted almost exclusively to protect.  Like, share, and subscribe! Norm is live every weekday from 12pm ET to 2pm ET on WICC 600AM/107.3FM. Stream Norm live at https://www.wicc600.com/. Follow @PattisPodcast on Twitter.