A prominent digital asset industry lawyer is considering running as the Republican candidate against incumbent anti-cryptocurrency senator Elizabeth Warren. The two have completely opposite views on crypto assets. One advocates innovation and regulation, the other wants to ban the asset class.
Cryptocurrency lawyer John Deaton is reportedly considering running as the Republican candidate in Massachusetts to challenge Warren, who holds a seat in the House of Representatives.
Massachusetts Candidate Competition
On February 14, the Boston Globe reported that Deaton was “seriously considering” the race and would make a decision in the coming days. The outlet cited two Massachusetts Republicans with knowledge of the issue.
He will face off against Jim Conroy, the state’s senior senator and former Democratic presidential candidate. If he enters the primary, Deaton would be the first Republican primary challenger to Warren, who is seeking a third term.
This potential move comes as the cryptocurrency industry is poised to play the biggest role in determining the outcome of the US election in November. Over the past two years, the incumbent Democratic Party has strongly oppressed the industry. Financial regulators targeting cryptocurrency companies have sparked numerous lawsuits. Additionally, it has delayed formalizing a regulatory framework for cryptocurrencies.
Deaton has criticized Warren and SEC Chairman Gary Gensler on social media, repeatedly pointing out their bias and anti-cryptocurrency agenda.
Read more: Who is Gary Gensler? Everything you need to know about the SEC Chairman
He filed an amicus brief supporting the company in the 2021 lawsuit between the SEC and Ripple Labs.
Additionally, another cryptocurrency-supporting Republican, Bernie Moreno, is running to challenge Senate Banking Chairman Sherrod Brown. Brown is one of the digital asset industry’s biggest critics.
Warren’s anti-cryptocurrency investigation controversy
Warren, a member of the Banking Committee, remains popular in Massachusetts and has a large campaign fund. Deaton will likely be seen as a long-term challenger with his crypto fundraising through a political action committee.
Plus, he has an interesting background as a Marine Corps veteran. He overcame poverty and cancer to become a successful lawyer and cryptocurrency advocate.
Elizabeth Warren recently warned:
“The risk of cryptocurrency-funded terrorism is real and must be an urgent priority for Congress.”
Read more: Bitcoin Halving Cycle and Investment Strategy: What You Need to Know
She also claimed that Bitcoin is causing an energy crisis in the United States and is part of a “politically motivated attack” on Bitcoin miners regarding energy use.
Both claims have been refuted by science and facts. On February 14, the U.S. Deputy Secretary of the Treasury confirmed that previously reported cryptocurrency terrorism financing figures were inaccurate.
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