Pro-XRP Attorney Sounds Alarm, Crypto To Be Banned In U.S. Soon?

By Vince • December 17, 2023 1:11 pm • Comments

Is a crypto ban coming in the United States? John Deaton warns that such a nightmare scenario could happen.

All eyes are now on Senator Elizabeth Warren’s bill to outright ban all cryptocurrencies in the United States including Bitcoin.

According to Deaton, 20% of the Democrat-controlled Senate has already thrown their support behind her bill.

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Conversely, her bill is unlikely to pass in the Republican-controlled House of Representatives, though she could surprise us and garner bipartisan support for her bill.

John Deaton issued this warning on Saturday: “20% of the US Senate has already agreed to support her defacto ban on Crypto and Bitcoin in the U.S. I know for a fact she is using her reelection as an opportunity to create and control the Crypto narrative. She is the single biggest threat to freedom in the United States.”

Deaton went on: “Her bill is a BIG deal. NINE U. S. Senators have joined her, including Republicans and Independents. As I’ve said, if you’re talking about people, Elizabeth Warren is the single biggest threat to Crypto in the United States. It’s not Gensler because Gensler takes his marching orders from Warren.”

Cryptopolitan reports:

Ryan Selkis, the founder of Messari, has echoed Deaton’s concerns, cautioning the crypto community not to underestimate Senator Warren’s potential to impact the industry negatively.

Selkis believes that many members of the crypto community are currently fighting to protect their careers and interests, and Senator Warren stands as a formidable adversary. 

The crypto community criticized Elizabeth Warren and noted her connection to current Securities and Exchange Commission chief Gary Gensler.

CoinDesk provided this counter-perspective:

It likely won’t pass for other reasons — in part, after the mess that FTX caused, U.S. legislators are intent on passing actual crypto regulatory reforms, and Warren’s bill — instead of taking aim at the issues in blockchain that enabled Sam Bankman-Fried’s rise and fall — is focused on the incredibly narrow issue of surveillance.

It just isn’t a good use of time, to say nothing of all the other ways U.S. lawmakers seem to waste the days of the years.

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