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Cryptocurrency advocate Stand With crypto has endorsed John E. Deaton, highlighting his stance on digital assets as he challenges Senator Elizabeth Warren.
Stand With crypto, a cryptocurrency advocacy group, has supported Pro-cryptocurrency lawyer John E. Deaton in his campaign against Senator Elizabeth Warren for the Massachusetts Senate seat.
The endorsement indicates growing support for Deaton's pro-crypto regulatory stance as he takes on Warren.
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Deaton, known for his defense of XRP (XRP) holders in the US Securities and Exchange Commission's lawsuit against Ripple Labs, has gained popularity among cryptocurrency enthusiasts. Stand With crypto's endorsement suggests that the group sees Deaton as a candidate who will champion pro-crypto policies and fight for regulatory clarity.
Stand With crypto website claims have over $180 million raised, and cryptocurrency companies like Exodus donated $1.3 million to Stand With crypto to support pro-crypto candidates in the upcoming US elections.
On September 13, Andreessen Horowitz's a16z crypto fund partnered with Stand With crypto and OpenSea to launch the Creator Legal Defense Fund, providing legal support to nft artists.
Deaton's crypto Beliefs Against Warren
In contrast, Senator Warren has consistently pushed for stricter regulations for the crypto industry.
It argues that digital assets pose risks such as money laundering, fraud and national security threats. Warren has called for stricter oversight and advocated for policies that would subject cryptocurrencies to regulations similar to those governing traditional finance.
Her stance has made her the target of criticism within the crypto community, which considers her approach too restrictive and potentially detrimental to innovation.
Deaton, meanwhile, has emphasized that he is not based on cryptocurrencies, but his campaign has resonated with crypto supporters who want more balanced regulation.
Stand With crypto's endorsement reinforces their message that the industry needs advocates willing to challenge what they see as aggressive and unclear regulatory measures. As the race heats up, the endorsement adds another layer to the ongoing debate over the future of cryptocurrencies in US financial policy.
