Originally published on: September 28, 2024
John Deaton, a well-known figure in the world of cryptocurrency, is taking a stand in his bid for the United States Senate in Massachusetts. In a recent interview with Generation Infinity, Deaton voiced his strong opposition to the idea of a US Federal Reserve-issued central bank digital currency (CBDC), emphasizing his focus on promoting regulatory transparency and government accountability.
During the interview, Deaton raised concerns about the potential implications of a federal CBDC, suggesting that it could lead to the replacement of physical cash and grant the government unprecedented access to monitor and control individuals’ spending habits. He pointed out Senator Elizabeth Warren’s advocacy for a CBDC, warning that it could place restrictions on the use of popular crypto assets such as Bitcoin.
Aside from his stance on a federal CBDC, Deaton also highlighted the importance of implementing clear regulations within the crypto industry, drawing attention to the actions of the US Securities and Exchange Commission. He criticized the lack of regulatory guidance, noting that it had caused many innovators and businesses to avoid entering the US market, with some even opting to exclude it entirely in recent years.
In addition to his views on financial matters, Deaton spoke out against the long-standing issues of accountability and fresh perspectives in Washington, supporting the implementation of term limits for senators and representatives. He condemned the practice of former regulators transitioning quickly to lucrative private sector roles, suggesting that it contributes to a lack of innovation and oversight in governmental decision-making.
As Deaton’s campaign gains momentum, his dedication to fighting against a federal CBDC and advocating for regulatory clarity in the crypto industry sets him apart as a candidate promising change and progress in the Senate.
