Is Elizabeth Warren Feeling The Heat From Pro-XRP Lawyer John Deaton's Challenge?

others

Pro-XRP Lawyer Deaton Vows To Expose Senate Warren’s ‘Hypocrisy’ On Anti-Crypto Bill – Crypto News

Published

1 year ago

July 11, 2024

Dripp

In a recent X post, pro-XRP lawyer John Deaton has vowed to expose Senator Elizabeth Warren’s alleged hypocrisy regarding her anti-crypto stance. Meanwhile, the controversy stems from Elizabeth Warren’s criticism of Fed Chair Jerome Powell, alleging his “cozy relationship” with big banks. However, the pro-XRP lawyer targeted the Massachusetts Senate claiming her words mirror her own actions.

Pro-XRP Lawyer Deaton Challenges Elizabeth Warren’s Criticism

Senator Elizabeth Warren, whom many crypto market enthusiasts deems an anti-crypto politician, recently criticized Fed Chair Jerome Powell. In a recent X post, Senate Warren accuses him of having a “cozy relationship” with big banks, allowing them to grow unchecked.

In her post, 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.

However, John Deaton, a prominent lawyer and advocate for XRP, responded sharply. He accused Warren of hypocrisy, stating, “My God, talk about the pot calling the kettle black! Elizabeth Warren’s hypocrisy knows no bounds.”

In addition, the pro-XRP lawyer challenged Elizabeth Warren to reveal who wrote her anti-crypto bill and vowed to hold her accountable by fall. For context, John Deaton is running in the election race against Elizabeth Warren.

Also Read: ‘Biden Should Fire Gary Gensler’ Quote Mark Cuban And Crypto Roundtable Attendees

Response Against Anti-Crypto Campaign

Senator Warren’s anti-crypto stance isn’t new. In April, she wrote to Treasury Secretary Janet Yellen, calling for decisive action against cryptocurrencies, citing national security threats.

Meanwhile, the Senate expressed concerns over the potential misuse of digital assets, particularly stablecoins, by terrorist organizations and rogue nations. She echoed the testimony of Deputy Secretary Adewale O. Adeyemo, who emphasized the need for additional anti-money laundering (AML) authorities to counter illicit cryptocurrency use.

In addition, Warren’s letter highlighted the urgency of adopting measures to prevent bad actors from exploiting the anonymity and decentralization of cryptocurrencies. She called for the inclusion of AML/CFT requirements for the entire digital asset ecosystem, including payment intermediaries such as miners and validators.

However, Deaton has consistently opposed Senate Warren’s anti-crypto stance. He argues that Warren’s focus on cryptocurrency is a diversion from more pressing issues in Massachusetts, such as inflation and illegal immigration.

Furthermore, the pro-XRP lawyer has previously accused Senate Warren of prioritizing the banking industry’s interests over those of the public. He believes her efforts are misdirected and harmful to the emerging digital asset sector.

Meanwhile, 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 the debate.

Also Read: Shiba Inu Team Gives 4 Reasons Why SHIB ETF Is Imminent

<!–

–>