Pro-XRP lawyer John Deaton has recently vowed to expose what he describes as Senator Elizabeth Warren’s hypocrisy regarding her anti-crypto stance. This controversy has arisen following Warren’s criticism of Federal Reserve Chair Jerome Powell, whom she accused of maintaining a “cozy relationship” with big banks.
Deaton Challenges Warren’s Criticism
Senator Elizabeth Warren, known for her anti-crypto position, recently targeted Fed Chair Jerome Powell. She accused him of allowing big banks to grow unchecked due to their close relationship. In a post on X, Warren stated:
“Fed Chair Powell’s cozy relationship with big banks means they get to write their own rules, play games with people’s money, and grow their market power unchecked. Enough is enough.”
John Deaton, a prominent lawyer and advocate for XRP, responded sharply. He accused Warren of hypocrisy, remarking, “My God, talk about the pot calling the kettle black! Elizabeth Warren’s hypocrisy knows no bounds.” Deaton also challenged Warren to disclose the authors of her anti-crypto bill and vowed to hold her accountable by the fall. It’s worth noting that Deaton is running in the election race against Warren.
Response to Anti-Crypto Campaign
Senator Warren’s opposition to cryptocurrencies is well-documented. In April, she urged Treasury Secretary Janet Yellen to take decisive action against cryptocurrencies, citing national security threats. Warren expressed concerns over the potential misuse of digital assets, particularly stablecoins, by terrorist organizations and rogue nations. She echoed Deputy Secretary Adewale O. Adeyemo’s testimony, which emphasized the need for additional anti-money laundering (AML) authorities to counter illicit cryptocurrency use.
Warren’s letter highlighted the urgency of adopting measures to prevent bad actors from exploiting the anonymity and decentralization of cryptocurrencies. She called for AML/CFT requirements to be applied to the entire digital asset ecosystem, including payment intermediaries such as miners and validators.
Deaton’s Opposition
John Deaton has consistently opposed Senator Warren’s anti-crypto stance. He argues that her focus on cryptocurrency diverts attention from more pressing issues in Massachusetts, such as inflation and illegal immigration. Deaton has previously accused Warren of prioritizing the banking industry’s interests over those of the public, suggesting that her efforts are misdirected and harmful to the emerging digital asset sector.
Growing Tension
The clash between Deaton and Warren underscores the growing tension between crypto advocates and regulators. Deaton’s vow to expose Warren’s actions could further intensify this debate, highlighting the ongoing conflict over the future of cryptocurrency regulation in the United States.
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