Pro-XRP lawyer John Deaton has openly criticized Senator Elizabeth Warren and SEC Chair Gary Gensler, accusing them of regulatory actions that push crypto firms out of the U.S.

John Deaton’s Ongoing Critique of Warren and Gensler

John Deaton, a well-known attorney and advocate for cryptocurrency, has once again targeted Senator Warren and SEC Chair Gary Gensler. This duo has long been his primary focus due to their regulatory stance, which Deaton believes unfairly targets the crypto sector. Despite his criticism, Deaton remains hopeful for the industry’s future.

John Deaton’s Role in Shaping the U.S. Crypto Landscape

Deaton first entered the crypto arena as a defender of XRP holders in the legal battle between SEC and Ripple. Recently, however, his advocacy has expanded. Following the recent elections, where Elizabeth Warren lost her Senate seat in Massachusetts, Deaton sees an opportunity for the crypto industry, which has long sought clearer regulatory guidelines.

Deaton argues that Warren and Gensler have contributed to an environment contrary to what the crypto industry needs. Many entrepreneurs in the space have claimed they can’t offer their products in the U.S. due to the risk of legal action. Over the past year, the SEC has issued several “Wells Notices” to companies like OpenSea, Uniswap, and Robinhood. This approach has driven many companies abroad. Deaton believes that with Donald Trump’s expected inauguration in January, the regulatory landscape could shift.

Bitcoin’s Rise and the Anticipated Economic Boom in the U.S.

Deaton’s comments came in response to a post by Gemini’s co-founder Tyler Winklevoss, who remarked that Bitcoin’s surge above $85,000 reveals how toxic Warren and Gensler’s approach has been for the crypto industry. With a new administration incoming, he believes it’s time to prepare for a “massive U.S. economic boom.”

While many are optimistic about economic growth, some critics, such as Peter Schiff, warn against stockpiling Bitcoin reserves, arguing it could harm the U.S. dollar. At the time of writing, Bitcoin’s price stands at $86,743.43, reflecting a 6.52% increase over the past 24 hours.

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