John Deaton Opposes Federal CBDC In Senate Run

According to Cointelegraph, John Deaton, a notable figure in the cryptocurrency community, has declared his candidacy for the United States Senate seat in Massachusetts. In an interview with Generation Infinity, Deaton expressed his strong opposition to a Federal Reserve-issued central bank digital currency (CBDC) and emphasized his commitment to regulatory clarity and government accountability. Deaton stated that while a CBDC used by the government to streamline the banking system might be acceptable, he firmly opposes a consumer-issued CBDC by the Federal Reserve. He argued that such a CBDC could replace cash and enable the government to monitor and potentially restrict individual spending. Deaton also criticized Senator Elizabeth Warren's support for a CBDC, suggesting it could limit the use of cryptocurrencies like Bitcoin (BTC). In addition to his stance on CBDCs, Deaton addressed issues of government accountability and fiscal responsibility. He advocated for term limits for senators and representatives, arguing that long-term incumbency stifles fresh ideas and accountability in Washington. Deaton also criticized the practice of former regulators quickly transitioning to private sector roles, proposing a statutory gap of three to five years between regulatory positions and industry jobs. Deaton also highlighted the need for clear regulations in the cryptocurrency industry. He pointed out the approach of the US Securities and Exchange Commission (SEC) and recounted his advocacy on behalf of XRP holders. Deaton argued that the lack of regulatory clarity has driven some innovators and companies to avoid the US market, with some entrepreneurs choosing to exclude the US market in recent years.