Crypto Lawyer’s Bid Against Warren: A New Political Twist?

A prominent digital asset industry attorney is considering running as a Republican candidate against the incumbent anti-crypto Senator Elizabeth Warren. The two have completely opposing views on crypto assets, with one advocating for innovation and regulation and the other wanting to ban the asset class. 

Crypto lawyer John Deaton is reportedly considering running as a Republican candidate in Massachusetts, challenging Warren, who holds the position of Representative.

Massachusetts Candidate Competition

On February 14, the Boston Globe reported that Deaton was taking a “serious look” at the race and would decide in the coming days. The outlet cited two Massachusetts Republicans familiar with the matter.

He would be going up against the state’s senior senator and former Democratic presidential candidate, Jim Conroy. Should he enter the race, Deaton would become the first major Republican Party challenger for Warren, who is seeking a third term. 

The potential move comes as the crypto industry is poised to play its largest role in deciding the outcome of the US election in November. For the past two years, the incumbent Democrat Party has cracked down hard on the industry. Finance regulators targeting crypto companies have unleashed a torrent of lawsuits. Additionally, it has procrastinated in formulating a regulatory framework for crypto.

Deaton has been a critic of Warren and SEC chair Gary Gensler on social media, repeatedly pointing out their bias and anti-crypto agendas. 

Read more: Who Is Gary Gensler? Everything To Know About the SEC Chairman

He filed an amicus brief in the lawsuit between the SEC and Ripple Labs in 2021, backing the firm. 

Moreover, another pro-crypto Republican, Bernie Moreno, is running to challenge Senate Banking Chair Sherrod Brown. Brown is one of the digital asset industry’s biggest critics. 

Warren’s Anti-Crypto Rhetoric Disputed 

Warren, who sits on the Banking Committee, remains popular in Massachusetts and has a large campaign war chest. Deaton would be considered a long-shot challenger through crypto funding through political action committees is increasing. 

Additionally, he has an intriguing background as a Marine veteran. He overcame poverty and cancer to become a successful lawyer and crypto advocate.

Elizabeth Warren recently warned that the,

“Danger of crypto-financed terrorism is real and should be an urgent priority for Congress.”

Read more: Bitcoin Halving Cycles And Investment Strategies: What To Know

She has also claimed that Bitcoin is causing an energy crisis in the United States and was part of a “politically motivated attack” on Bitcoin miners regarding their energy usage. 

Both claims have been refuted by science and facts. On February 14, the US Treasury Undersecretary confirmed that previously reported figures for crypto terror financing were inaccurate.