Crypto Crusader John Deaton Battles Critic Elizabeth Warren In High-Stakes Senate Race

Zinger Key Points
  • Deaton explored a Senate bid with his Twitter followers, expressing a desire to debate Warren without assuming victory.
  • Warren faces criticism for opposing the SEC's approval of Bitcoin ETFs and for proposing strict anti-money laundering crypto regulations.

Crypto attorney, John Deaton, has announced his candidacy for the U.S. Senate in Massachusetts, aiming to unseat current Senator Elizabeth Warren (D-MA).

His campaign was kick-started with the launch of a dedicated website and a Facebook page over the past weekend, Blockworks reported.

Deaton, aligning himself with the Republican Party, criticizes Warren for her lack of accomplishments for the state.

As the founder and presenter of CryptoLaw US, Deaton is recognized for his advocacy in the Ripple XRP/USD community and his legal expertise in the cryptocurrency sector.

His platform, CryptoLaw, features extensive coverage on legal and regulatory developments within the cryptocurrency world.

Deaton has been vocal in his criticism of both Warren and SEC Chair Gary Gensler for their approach towards the cryptocurrency industry.

He has been actively involved in major legal battles involving Ripple, Binance BNB/USD, and Coinbase, particularly highlighting the SEC's actions against these entities.

In a notable move in 2021, Deaton sought to represent the interests of XRP holders in the SEC's lawsuit against Ripple, asserting that their perspectives were overlooked.

Also Read: Starknet Claims Go Wild As 5M Tokens Get Snapped Up In First Minutes

His personal investment in XRP underscores his stake in the matter.

The idea of running for Senate was floated by Deaton to his substantial Twitter following last December, posing the question of whether he should pursue a political challenge in Massachusetts.

He expressed a keen interest in debating Warren, albeit without assuming victory.

Warren, known for her critical stance on cryptocurrencies, has been under scrutiny for her claims regarding the use of crypto by terrorist groups, a statement that has been refuted by blockchain analytics firm Elliptic and the Treasury Department.

Moreover, Warren has critiqued the SEC for its approval of Bitcoin ETFs earlier this year, questioning the agency's legal and policy judgment.

Currently, she is advocating for stricter anti-money laundering regulations in the crypto space through her proposed Digital Asset Anti-Money Laundering Bill, which has garnered both support and criticism.

Despite his prominent background in the crypto industry, Deaton emphasized to the Boston Globe that his campaign is not solely focused on cryptocurrency issues.

Read Next: Ethereum Soars Past $3,000 As Experts Anticipate Network Upgrades, ETF Approval By May

Photo: Shutterstock

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: CryptocurrencyNewsSECMarketsanti-money launderingbitcoin ETFBlockchain TechnologyDigital AssetElizabeth WarrenEthereum ETFJohn DeatonStories That Matter
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!