The post Elizabeth Warren Wins Third Senate Term Over Crypto Ally John Deaton appeared on BitcoinEthereumNews.com.

Massachusetts’s Democratic Senator Elizabeth Warren has been re-elected for the third time after defeating the Republican candidate and the cryptocurrency advocate John Deaton on Tuesday. Senator Warren’s win was confirmed by the Associated Press, which allows her to keep on being one of the leading advocates for financial reform and cryptocurrency regulation in the Senate. Warren, an outspoken opponent of the cryptocurrency industry, defeated Deaton, who ran with the backing of key players in the crypto space. Elizabeth Warren Wins Senate Term Over  John Deaton As a politician, Warren has been consistently critical of the cryptocurrency industry fearing its potential to facilitate fraud and dodge regulation. She has been quite vocal on advocating for policies that enhance monitoring of the digital assets.  Warren has been a big advocate of an anti-money laundering bill that aims to expand the BSA, including KYC measures, to the cryptocurrency industry players including miners, validators, and wallet providers. This regulatory effort is to enhance compliance of the crypto industry to the normal finance, a thing she has emphasized in the debates and other rallies. In an October debate, Warren brought up Deaton’s connections to the crypto industry and said that the industry was spending 90% of its budget to try to unseat her in Massachusetts. Warren used her opponent’s relationships with the industry to push her argument that crypto must be subject to traditional finance rules. John Deaton’s Campaign and Crypto Industry Support John Deaton, a lawyer and an expert on cryptocurrency, gained much sympathy from key stakeholders in the cryptocurrency markets. Other industry supporters of Deaton include Ripple CEO Brad Garlinghouse, Ripple co-founder Chris Larsen, and crypto investors the Winklevoss twins and Scaramucci.  Such industry leaders supported Deaton’s campaign by contributing money to it; some of the payments were made to the Commonwealth Unity…

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Filed under: News - @ November 6, 2024 2:27 am