Pro-Ripple Lawyer John Deaton Defends XRP During Heated Debate with Massachusetts Senator Elizabeth Warren

Pro-Ripple lawyer John Deaton came out to defend XRP during a heated debate with Massachusetts Senator Elizabeth Warren.

Pro-Ripple lawyer John Deaton joined the conversation to defend XRP in a heated debate with Massachusetts Senator Elizabeth Warren over crypto donations to political campaigns.

During the debate, Deaton highlighted his role in representing Ripple against the lawsuit filed by the US Securities and Exchange Commission (SEC), stating that his aim was to protect retail investors.

“I think it's really important to note that I sued the government because the SEC had done something really bad to small retail investors, and a lifelong Democratic judge agreed with me. I did it all pro-bono, and this token XRP was called legal because of my work,” said Deaton.

The attorney went on to note that following XRP’s legal victory, Ripple co-founder Chris Larsen donated $1 million in XRP tokens to US Vice President Kamala Harris’s campaign team. As reported by ZyCrypto, this marked the first documented crypto donation to the Harris campaign.

“If I didn't do what I did, which was to sue the SEC on behalf of small retail investors, that donation to [Harris] would not have happened,” added Deaton.

Deaton also noted that one of the reasons he became pro-crypto was to help the unbanked and “cut out predatory banks.” He also called out Warren over claims that she planned to build an anti-crypto army, adding that there were more pressing issues that the state needed to deal with.

Senator Warren says she is “fine” with crypto

Senator Warren defended her stance on the cryptocurrency industry, stating that she was “fine” with people trading crypto.” However, she also opined that the industry needed to follow the same rules as banks, stock brokerage companies, and other financial institutions.

The Senator stated that some guidelines needed for the crypto industry include having consumer protection laws while ensuring the industry is not used for terrorism financing, drug trafficking, and human trafficking.

“I am all for having a crypto system if people want to buy and sell crypto. All I want are just some basic fair rules. The same kind of fair rules that apply to all our financial institutions,” said Warren.

However, Warren also alluded to Deaton being overly biased towards crypto after receiving donations from the industry and stating that the majority of his net worth was in digital assets.

The recent issues raised during the debate highlight the growing discussion around cryptocurrencies as the US election approaches. Republican Presidential candidate Donald Trump has made several attempts to appeal to the crypto community, including plans to have a US Bitcoin strategic reserve. Harris has also vowed to support the creation of a crypto regulatory framework.

The above is the detailed content of Pro-Ripple Lawyer John Deaton Defends XRP During Heated Debate with Massachusetts Senator Elizabeth Warren. For more information, please follow other related articles on the PHP Chinese website!