Senator Warren’s new whip on crypto, Calls for uniform rules - CryptoCrazeNews

Senator Warren’s new whip on crypto, Calls for uniform rules

Senator Warren’s new whip on crypto, Calls for uniform rules

Senator Warren’s new whip on crypto, Calls for uniform rules

Senator Elizabeth Warren from Massachusetts criticized the crypto industry, saying they don’t like to follow the rules. She believes crypto should follow the same regulations as traditional finance in the United States. Currently awaiting approval is the senator’s anti-money-laundering bill, which would extend the Bank Secrecy Act to crypto. John Deaton, a pro-crypto lawyer, is running for Senate in Massachusetts. Aiming to challenge Senator Warren, he announced his run on 20 Feb.

Senator Warren hits on crypto again

Senator Warren once again criticized the crypto industry, saying they don’t want to obey the rules. Emphasizing that everyone in the US financial system must follow the same rules, and crypto companies should do the same.

“I want to work together with the industry, but what confuses me is why they think they can only survive if there’s room for drug dealers, human traffickers, terrorists, ransomware scammers, and other fraudsters,” the Democrat said in an interview with Bloomberg Television.

She discussed her proposed “Digital Asset Anti-Money Laundering Act.”. To prevent money laundering, different crypto players, including miners, validators, wallet providers, and others, would have to follow the rules.

John Deaton runs for senate

The anti-crypto senator introduced the law last year, but it’s been slow to move forward because the Senate Banking Committee is busy with other things. Now, John Deaton wants to run for the US Senate in Massachusetts against Senator Elizabeth Warren. Deaton, who is very clearly far from being anti-crypto, made his announcement on X (formerly Twitter) on 20 Feb.

He’s known for supporting crypto and runs a website called CryptoLaw, where he talks about legal stuff related to crypto. He’s also been involved in lawsuits about crypto, like one he filed in 2021 against the Securities and Exchange Commission about whether XRP is a security. 

Senator Warren and SEC chief Gary Gensler are often criticized by Deaton for their crypto policies. A few days back, CryptoLaw’s Twitter account said that Gensler keeps getting things wrong legally and is now trying to control the cryptocurrency industry through propaganda because he can’t win in court. 

Deaton’s website says that he wants to be a senator because he’s been through a lot and understands what regular people go through. The website reads, “He has served his country as a Marine, served asbestos victims and cryptocurrency holders as an attorney, and now hopes to serve the people of Massachusetts as their US senator.”

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