• 28 May, 2024

Crypto Talks Won’t Reach 2024 Presidential Debate; CryptoLaw.US’ John Deaton

The US legal and regulatory news portal CryptoLaw.US’ founder John E Deaton took to Twitter to comment on the policy and market influence of US senator Elizabeth Warren as she braces to run for re-election with the anti-crypto stance of the Democrats. Deaton asserted that since both Democrats and Republicans are anti-crypto, there is little doubt that Bitcoin and crypto would not reach the 2024 Presidential Debate Stage.

Deaton stressed that it is not a coincidence that amid Senator Warren’s anti-crypto platform stance, President Biden is talking about crypto traders:

Deaton had quote-tweeted Messari Crypto CEO Ryan Selkis’ June 30 tweet on the 80-year-old US President Joe Biden to have read the 70,000-page US tax code. Selkis proclaimed that President Biden looks confused about the absence of “crypto trader” tax loopholes, and that Biden’s policies are damaging capital gains.

On June 29, Deaton quote-tweeted the regulated crypto exchange Gemini’s co-founder Cameron Winklevoss. Deaton agreed with Winklevoss’ observation of former SEC Chair Jay Clayton about the un-American ethos of the SEC and its incumbent Chair Gary Gensler.

Clayton is seen to mention in the CNBC Squawk Box video that the regulatory leaders bring such cases which are fragile enough to be lost, and if the regulators don’t lose these cases, it means they aren’t suing enough businesses. In response, Deaton wrote that in the Ripple case, the Judge hinted that the SEC lawyers are missing a faithful allegiance to the law as they do not have a good faith basis to bring a case that is deserving to be contested. Deaton observed that merely by applying the law, a case cannot be won.

John Deaton reportedly participated in a recent Twitter spat with the Bitcoin maximalist Max Keiser. While Keiser quote-tweeted Deaton who noted that BTC maxis fancy themselves Libertarians and celebrate the gross SEC overreach, Keiser agreed on the SEC’s overreach but warned that the securities regulator would ‘kill’ XRP and that Bitcoin (BTC) would remain ‘untouchable.’

Keiser noted that virtually no rule of law exists on Wall Street for those having dollars and clout. Max added that Ripple CEO Brad Garlinghouse has spent a lot of dollars but wouldn’t be able to outspend the Feds and Jamie Dimon, the JP Morgan Chase CEO.

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