Deaton and Warren Debate Crypto Policies in Historic Showdown

• On Tuesday night, Massachusetts Senate candidates John Deaton and his rival Elizabeth Warren engaged in a debate that many are calling the inaugural US Senate debate.
• A highly anticipated question related to cryptocurrency from one of the panelists enabled both candidates to articulate their positions on the industry and its regulatory framework.
• Deaton championed cryptocurrency, recalling his longstanding commitment and unwavering support for the sector.

On Tuesday night, US Senate candidates John Deaton and Sen. Elizabeth Warren confronted each other on live television, marking what is viewed as the first formal pre-election Senate debate in the United States. This matchup is one of the most closely contested Senate races in US history, with both candidates holding opposing views on the regulation of the cryptocurrency industry.

John Deaton Challenges Senator Warren on Her Anti-Crypto Stance

Hosted by WBZ TV in collaboration with the Boston Globe, the Massachusetts Senate debate on Tuesday night featured both Warren and Deaton in a discussion that was highly awaited by the cryptocurrency community.

During the one-hour debate, moderated by WBZ News’ John Keller and Victoria McGrane, Political Editor for the Boston Globe, the candidates tackled significant issues including cryptocurrency regulation, foreign policy, healthcare, Roe v Wade, and other topics pertinent to the state.

The crypto discussion was initiated by WBZ’s Keller, who remarked on the candidates’ “very different views of the cryptocurrency industry.”

“Senator Warren has expressed her intention to form an ‘anti-crypto’ army to address what she perceives as crypto’s threats to financial stability, consumer protection, climate, and national security,” Keller noted.

“You have criticized her and federal authorities for what you believe is excessive regulation of crypto. What do you think is the appropriate balance?” Keller queried Deaton.

Deaton shared his personal story, explaining how the exploitative practices of traditional financial institutions and middlemen, who imposed high fees for sending money he earned back home to his mother from college, affected his finances and ability to help her until he discovered Bitcoin.

“When Bitcoin was introduced, I thought, ‘Finally, we can eliminate the exploitative banks and middlemen, and enable unbanked individuals like my mother to access funds’,” Deaton expressed.

The former Marine then posed a “better question” to his opponent regarding how she could “wake up one day” and resolve to create an anti-crypto army while disregarding pressing challenges like “illegal immigration straining the state,” inflation, the debt crisis, and foreign conflicts.

“I’m fine with people buying and selling crypto; that’s wonderful,” Warren responded. However, she emphasized that she simply “wants to ensure that crypto adheres to the same regulations as every bank, every stockbroker, and every credit union.”

As usual, the senator stated that the cryptocurrency sector requires some consumer protection laws to ensure it is not accessible to “terrorists, drug traffickers, and human traffickers.”

She expressed apprehension that Deaton might prioritize crypto interests in the Senate due to the support he has received—90 percent of which comes from crypto investors expecting a return on their contributions.

Deaton: “Senator Warren’s Policies Do Not Benefit Low-Income Individuals”

In his response, Deaton asserted that Senator Warren’s policies “do not assist low-income individuals,” citing her legislation against Bitcoin self-custody as an example.

“Senator Warren’s policies do not aid low-income individuals. They do not support the working class. She backs the accredited investor rule, which excludes 85 percent of the American population,” Deaton remarked.

“Her policies are detrimental to low-income people, and I entered this race to provide a voice for them.”

Deaton has garnered praise from numerous crypto advocates for his poised and articulate delivery of arguments concerning crypto regulation. Pro-crypto attorney James Murphy noted that watching Deaton during the debate was “akin to witnessing Babe Ruth in practice.” Both candidates will meet again on the ballots this November for the Massachusetts Senate race.