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Home»ADOPTION NEWS»Cryptocurrency lawyer John Deaton is running for U.S. Senate against Elizabeth Warren.
ADOPTION NEWS

Cryptocurrency lawyer John Deaton is running for U.S. Senate against Elizabeth Warren.

By Crypto FlexsFebruary 21, 20243 Mins Read
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Cryptocurrency lawyer John Deaton is running for U.S. Senate against Elizabeth Warren.
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Cryptocurrency advocate John Deaton has formally proposed that the Massachusetts senator take on Democratic Sen. Elizabeth Warren in the fall.

Deaton announced his Republican Senate bid Tuesday morning on X (formerly Twitter). He has been an advocate for cryptocurrencies and runs the CryptoLaw website where he regularly posts about cryptocurrency legal and regulatory developments. Deaton has also dabbled in cryptocurrency litigation, such as filing. all petition In 2021, it challenged the Securities and Exchange Commission’s claim that XRP is a security.

Deaton has frequently criticized Senator Warren and SEC Chairman Gary Gensler for their handling of the cryptocurrency industry. cryptography tweeted Last week, Gensler said:He’s been proven wrong about the law over and over again, but now he’s basically waging a kind of propaganda war against the industry. Because he can’t win in court to get cryptocurrencies under his regulatory control.”

“Having overcome so much, John believes it is time to elect someone to the United States Senate who understands the struggles of the American people,” his website says. “He served his country as a Marine, served asbestos victims and cryptocurrency holders as an attorney, and now hopes to serve the people of Massachusetts as a U.S. Senator.”

To face Warren in the general election, Deaton must first secure the Republican nomination, where at least four candidates have already announced their intention to run against Warren. Massachusetts Republicans and Democrats will hold primary elections for the U.S. Senate on September 3.

Deaton’s opponent

Senator Warren, seeking a fourth term as U.S. senator, He serves on both the Senate Finance Committee and the Banking, Housing and Urban Affairs Committee. She has been critical of cryptocurrencies and she has recently been pushing for anti-money laundering legislation. Extends Bank Secrecy Act requirements, including know-your-customer rules, to miners, validators, and wallet providers.

“It’s time for cryptocurrencies to be subject to anti-money laundering rules like everyone else. We have legislation to make that happen.” warren Posted On X last month.

The bill has sparked backlash from some in the cryptocurrency industry. unconstitutional And it’s too broad.

Deaton criticized Warren in his promotional video and on his website on Tuesday.

“Washington, D.C. is broken, and in more than a decade in power, Elizabeth Warren has done nothing to fix it. In fact, she has become a big part of the problem,” Deaton said.

Deaton and Warren did not respond to requests for comment.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

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