US Senator Elizabeth Warren’s crypto stance has been called into question following the debate against pro-XRP advocate John Deaton. The senator’s seemingly less aggressive comments are a departure from her repeatedly hostile approach to the industry, catching the community by surprise.
The Senate debate in Massachusetts is heating up
Democratic Senator Elizabeth Warren, known in the industry for her strong anti-crypto stance, surprised the community with her latest comments during the Massachusetts Senate debate against attorney John Deaton.
The candidates for the Senate seats in Massachusetts have very different approaches, as the debate presenters noted. Senator Warren has previously vowed to build “an anti-crypto army” and called the industry a “threat to financial stability.” Meanwhile, pro-crypto Deaton has often criticized Warren and federal authorities’ “overly aggressive regulation” of the sector.
During the debate, Senator Warren repeated repeatedly declared that she was open to digital assets if the sector followed the same rules as the other financial institutions, in an apparent departure from her previous hostile comments.
I’m all for having a crypto system if people want to buy and sell crypto. All I want are some basic fair rules, the same kind of fair rules that should apply to all our financial institutions.
However, Deaton noted that “the rules are already there” and questioned the motives behind the Democratic senator’s decision to build an anti-industry army “with everything going on.”
Furthermore, the pro-XRP advocate suggested that Warren’s policies do not benefit the working class, but instead “hurt poor people.” Deaton also said he would like Senator Warren to “attack” inflation and border security the way she attacks, which is focused on crypto.”
The Democratic senator argued that if Deaton goes to Washington, he will fight for the industry because his “crypto friends will want a return on their investment,” noting that industry figures have donated to the lawyer’s campaign for the seat on the House floor. Win the Senate.
Nevertheless, Kamala Harris’ presidential campaign has also received contributions in cryptocurrencies. If reported by Bitcoinist, the US Vice President and Democratic nominee recently received her first documented donation in digital assets after the Ripple co-founder sent $1 million worth of XRP to the Political Action Committee (PAC).
Is Senator Warren “all in for crypto”?
The community responded to the debate, questioning the reasoning 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 were not as hostile as usual.
However, Galaxy’s head of research, Alex Thorn, refuted this hypothesis. In an X post, Thorn pointed out that Warren’s comments were consistent with her previous positions, and that her wording did not imply the same approach to the industry:
No, Warren is consistent. It may seem reasonable when she says: ‘the same rules as the banks.’ But she means applying BSA compliance to non-custodial entities such as wallets, software developers, smart contracts, miners, and validators, which is essentially a ban on blockchain networks themselves.
Similarly, investors also expressed dissatisfaction over the senator’s comments. Scott Melker, the host of the podcast The Wolf Of All Streets, called Warren is a “bold liar,” noting that she attacked Deaton for owning digital assets while “completely lying about her past comments about crypto.” Astonishing lies.”
Ultimately, it appears that the community viewed Senator Warren’s statement as a “Trojan Horse” rather than an honest attempt to soften her position and work with the industry.
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