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Pro-XRP John Deaton officially launches Senate bid to replace Elizabeth Warren, campaign funded via Coinbase

The outcome of the US 2024 Presidential Election may have significant effects on the future of digital assets.

Pro-XRP John Deaton officially launches Senate campaign to replace Elizabeth Warren

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John Deaton, a well-known crypto attorney and advocate for XRP holders, announced on Tuesday a Senate campaign to unseat Elizabeth Warren, who currently serves as the senior US senator from Massachusetts. According to Fox journalist Eleanor Terrett, Deaton’s campaign will soon accept donations directly through Coinbase.

In a statement on his campaign website, Deaton criticized Warren’s ineffective leadership in the Senate, stating that:

“Elizabeth Warren promised she’d be a champion for those in need. [Instead,] she gives lectures, plays politics, and gets nothing done for Massachusetts.”

Deaton has openly criticized Warren’s policies, especially her approach to crypto. He previously suggested that Warren used her reelection campaign to shape and dominate the dialogue against crypto, framing it in a negative light.

Deaton also accused Warren and her allies, including JPMorgan CEO Jamie Dimon, of orchestrating a campaign aimed at consolidating support for a central bank digital currency (CBDC) by discrediting decentralized crypto, thereby centralizing financial power and control.

“This is ALL being coordinated by @ewarren and her anti-crypto army, being co-chaired by Jamie Dimon. They want to introduce a CBDC controlled by the Federal Reserve, in conjunction with the Big Banks. She is using her campaign for reelection as a way to create and control the anti-crypto narrative,” Deaton remarked,” Deaton stressed.

Warren has been a key figure in debates around crypto regulation, particularly with her proposed Digital Asset Anti-Money Laundering Act. The legislation aims to subject digital assets to banking-style regulations, classifying them as securities.

In contrast, the Responsible Financial Innovation Act, also known as the Lummis-Gillibrand Act, introduced by Senators Cynthia Lummis and Kirsten Gillibrand in 2022, offers a different path forward. Reintroduced last July, this bipartisan bill seeks to foster crypto innovation while ensuring investor protection by granting regulatory authority over crypto to the CFTC, curbing the SEC’s reach.

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