US Senator Elizabeth Warren’s crypto stance has been questioned after the talk against Pro-XRP Lawyer John Deaton. The Senator’s seemingly less aggressive comments depart from her repeatedly hostile approach to the sector, surprising the community.
Massachusetts Senate Debate Heats Up
Democratic Senator Elizabeth Warren, known within the industry for her strong anti-crypto stance, surprised the community together with her most up-to-date comments in the course of the Massachusetts Senate debate against Lawyer John Deaton.
The candidates for the Massachusetts Senate seats have very different approaches, as the talk hosts identified. Senator Warren has previously vowed to construct “an anti-crypto army” and has called the industry a “threat to financial stability.” Meanwhile, Deaton, pro-crypto, has often criticized Warren and the Federal authorities’ “overly aggressive regulation” of the sector.
Through the debate, Senator Warren repeatedly stated that she was open to digital assets if the industry followed the identical rules as the opposite financial institutions, seemingly departing from her previous hostile comments.
I’m all for having a crypto system if people need to buy and sell crypto. All I need is a few basic fair rules, the identical type of fair rules that ought to apply to all of our financial institutions.
Nonetheless, Deaton noted that “the principles are already there” and questioned the motives behind the Democratic Senator’s decision to construct an anti-industry army “with all that’s occurring.”
Moreover, the pro-XRP Lawyer suggested that Warren’s policies don’t favor the working class, stating that they “hurt poor people” as a substitute. Deaton also said he wishes Senator Warren “attacked” inflation and border security “the way in which she attacks, and it’s focused on crypto.”
The Democratic Senator argued that if Deaton goes to Washington, he’ll fight for the sector as his “crypto buddies are going to need a return on their investment,” noting that industry figures have donated to the lawyer’s campaign to win the Senate seat.
Nonetheless, Kamala Harris’ presidential campaign has also received contributions in cryptocurrencies. As reported by Bitcoinist, the US Vice President and Democratic nominee recently got her first documented donation in digital assets after Ripple’s co-founder sent $1 million price of XRP to the Political Motion Committee (PAC).
Is Senator Warren “All In For Crypto”?
The community reacted to the talk and questioned the rationale behind Warren’s less aggressive wording. Fox Business journalist Eleanor Terrett wondered if the Democratic Senator was backtracking on her anti-industry stance as her comments weren’t as hostile as usual.
Nonetheless, Galaxy’s Head of Research, Alex Thorn, refuted this hypothesis. In an X post, Thorn identified that Warren’s comments were consistent together with her previous stances, nothing that her wording implied the identical approach to the sector:
No, Warren’s being consistent. Could seem reasonable when she says, “same rules because the banks.” But she means applying BSA compliance to non-custodial entities like wallets, software devs, smart contracts, miners, and validators, which is effectively a ban on blockchain networks themselves.
Similarly, investors also expressed their discontent with the Senator’s comments. Scott Melker, the host of The Wolf Of All Streets podcast, called Warren a “bold-faced liar,” noting that she attacked Deaton for holding digital assets while “entirely lying about her past comments on crypto. Astounding lies.”
Ultimately, it looks like the community deemed Senator Warren’s statement a “trojan horse” as a substitute of an honest effort to melt her stance and work with the industry.
Bitcoin (BTC) is trading at $68,060 within the weekly chart. Source: BTCUSDT on TradingView
Featured Image from Unsplash.com, Chart from TradingView.com