John Deaton, a lawyer who has been a vocal critic of US authorities' efforts to regulate cryptocurrencies, is reportedly “seriously considering” joining the race.
Sen. Elizabeth Warren could face a potential challenge from pro-crypto Republicans later this year.
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Posted on February 16, 2024 at 4:15 PM ET.
Sen. Elizabeth Warren (D-Mass.) were in conflict He has been involved in the cryptocurrency industry for many years and has criticized cryptocurrencies for being used for illegal financing and for scammers taking advantage of individual investors., And the upcoming election could see a challenger more supportive of digital assets.
According to the Boston GlobeJim Conroy, a key Republican operative, John Deatonis “seriously” working on participating in the race.
Deaton was the founder of cryptography. according to The site is committed to “providing a central location for public information, links to news articles, and in-depth analysis of legal, regulatory, and policy issues related to cryptocurrency and blockchain technology.” Masu.
Deaton did not respond to a request for comment on whether he would run.
Gensler, a sharp critic of the SEC
Mr. Deaton has been interested in cryptocurrencies for many years. amicus brief in April 2021 in connection with the Securities and Exchange Commission's December 2020 legal filing against Ripple Labs.
Deaton argued in a prepared statement that the SEC's decision to consider Ripple's sale a securities violation is “ridiculous because the same statement applies equally to investors in Bitcoin, Ether, XRP, and even gold and silver.” . The language used by the SEC in its complaint is reckless and dangerous because it could apply to any product, not just any virtual currency. ”
His posts on X, formerly known as Twitter, reflect dissatisfaction with the government's approach to crypto regulation, or lack thereof.
in recent posts, He criticized SEC Commissioner Gary Gensler.
The post said, “He has been proven wrong on the law time and time again, but now he is essentially against the industry because he cannot win in court to make cryptocurrencies subject to regulation.” We are waging a kind of propaganda war.'' How is this man responsible for protecting our market? ”
Cryptocurrency supporters in politics
If Mr. Deaton chooses to jump into the race, it would create another example of cryptocurrency supporters flexing their muscles in elections. Groups like super PAC Fairshake, which has raised more than $85 million from crypto leaders such as Andreessen Horowitz (a16z), Coinbase, and Ripple, have spent money against a variety of candidates. Katie Porter of California and others. It's unclear why FairShake opposed Porter, but it may be because she has advocated for more regulation of the industry to protect consumers.
Warren is strong support In Massachusetts, PACs focused on crypto-positive candidates have recently entered elections.
After several years of stagnation between the Bitcoin price crash, the decline of NFTs, and the collapse of FTX, it looks like 2024 could see a resurgence in crypto advocacy.
