Pro-XRP lawyer and Massachusetts Senate Candidate John Deaton has called out U.S. Senator Elizabeth Warren and SEC Chair Gary Gensler for their inconsistent anti-crypto stance. Deaton criticized Warren for not questioning Gensler about his private meetings with FTX founder Sam Bankman-Fried (SBF), whom he referred to as the Bernie Madoff of crypto. During a recent Good Morning Crypto podcast interview, Deaton highlighted Warren’s anti-crypto position and her failure to address Gensler’s ties to SBF.
Deaton raised concerns about the lack of transparency surrounding Gensler’s meetings with SBF and suggested that Warren and Gensler could be protecting SBF due to his significant donations to the Democratic Party. Despite their vocal criticism of the crypto industry, Warren and Gensler have not shown the same level of scrutiny towards individuals like SBF.
Looking ahead to the upcoming November election, Deaton expressed his interest in serving on three key U.S. Senate Committees if elected. He outlined his plans to advocate for fair treatment of U.S. veterans on the Veteran Committee, establish ethics in the government on the Senate Ethics Committee, and hold the SEC accountable for unclear crypto regulations on the Senate Banking Committee.
Deaton also addressed the SEC’s ambiguous approach to crypto regulations, citing internal discussions that revealed the agency’s preference for vague guidelines to maintain its regulation by enforcement agenda. He highlighted the controversial Ethereum free pass speech by former SEC official William Hinman, pointing out potential conflicts of interest and violations of financial criminal conflict statutes.
Deaton emphasized the need for transparency and accountability within the SEC, particularly in light of investigations into conflicts of interest related to the Ethereum free pass speech. He highlighted the role of the SEC’s Office of Inspector General in uncovering potential violations and stressed the importance of ensuring a fair and unbiased regulatory environment for the crypto market.
Overall, Deaton’s criticism of Warren and Gensler’s anti-crypto agenda underscores the need for greater transparency and accountability within the regulatory landscape. As a potential member of the Senate Banking Committee, Deaton aims to push for clearer regulations and fair treatment for the crypto industry, signaling a potential shift in the regulatory approach to digital assets.