Coinspeaker Crypto Showdown: Warren and Deaton Clash in Heated Senate Debate
The heat is on as the race to become Massachusetts’ next senator intensifies between Senator Elizabeth Warren and crypto lawyer John Deaton. While anticipation continues to grow ahead of the upcoming general elections, the candidacies of these rivals have undoubtedly hinged on their views of crypto. This explains why crypto policy became the major talking point in a recent debate.
Deaton Calls Out Warren Over Anti-Crypto Stance
The debate, which was held on October 15, was the first ever between the duo. It pitched Deaton, a Republican candidate, against Warren, who represents the Democrats and is also the incumbent.
According to Deaton, Warren is so obsessed with crypto that she has made building an “anti-crypto army”, a top priority. This is when she could have focused the same energy on other important issues that directly or indirectly impact the lives of the lower and middle class in the state, he added. Deaton said:
“With illegal immigration bankrupting the state, with inflation pricing regular people out of the economy… Why did this senator wake up one day and say with all that, I will build an anti-crypto army.”
Meanwhile, Warren countered Deaton’s claims, saying she does not have a problem with crypto. That is, as long as the industry maintains the same rules that traditional banks follow. She noted that, in as much as the industry operates within realms that prioritize consumer protection and abide by counter-terrorism laws, then all is well.
As Senator Warren has always claimed, she noted still that bad actors continue to use crypto for illicit activities ranging from scams to hacks and full-blown terrorism.
Common Ground: The Failure of Traditional Banks
Interestingly, both parties seemed to agree on the fact that traditional banking may have failed average Americans. That is especially true in the area of banking access.
However, even though the duo agrees on this one front, Deaton believes that Warren would rather focus on crypto crimes than work on these shortcomings in the traditional banking system.
He pointed out how Senator Warren had the ears of JPMorgan CEO Jamie Dimon during a December Senate Banking Committee hearing, but bever made mention of the banking failures.
Senator Warren also fired back at Deaton, suggesting that his fight may not even be pure. She claimed that Deaton’s attempt to unseat her is 90% backed by people from the crypto industry, who would likely expect a return on their investment should he make the Senate.
Although Deaton did not categorically respond to the claims by Warren, he did note that his unbiased hot takes has earned him a lot of enemies even among the crypto elites.
As of publication, The Hill’s 2024 Elections data shows Warren with a 22.5% lead on Deaton based on six polls.
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Crypto Showdown: Warren and Deaton Clash in Heated Senate Debate
