There have been reports that prominent members of the cryptocurrency community are contributing to the campaign for the Massachusetts Senate that John Deaton is running.
The attorney and prominent XRP supporter is competing in the Republican primary, which will decide who gets to fight the incumbent Senator Elizabeth Warren, who is a Democrat and one of the most vociferous political detractors of the digital asset industry. The primary will be held in the United States.
A fresh report from Politico reveals that Ripple executives Brad Garlinghouse and Chris Larsen contributed a maximum of $6,600 to Deaton’s campaign. These donations were made by Deaton. Additionally, it has been stated that Anthony Scaramucci, the founder of SkyBridge Capital, as well as Tyler and Cameron Winklevoss, the co-founders of Gemini, contributed the maximum amount.
Scaramucci, who was a member of the Trump administration for a very short period of time in 2017, said in an interview with Politico that Warren “represents all the worst things” that politicians in the United States are capable of.
“It is no longer about what is true or false for the nation; rather, it is about what is difficult to leave behind. Therefore, in order to beat her, we are going to put in our best effort to spend as much money as we can and to raise as much money as we can.
According to the Federal Election Commission’s contribution restrictions, individuals are permitted to make contributions of up to $3,300 for the primary election and up to $3,300 for the general election. It has also been alleged that Charles Hoskinson, the inventor of Cardano (ADA), contributed $3,300 to Deaton’s primary campaign.
Deaton was an active participant in the litigation that was brought against Ripple by the United States Securities and Exchange Commission (SEC). He assisted in the drafting of an amicus brief on behalf of XRP supporters, which was in opposition to the regulator’s move for summary judgment.
Warren was a sponsor of the Digital Asset Anti-Money Laundering Act, which is a piece of legislation that tries to ensure that the cryptocurrency business adheres to the same regulations against money laundering as are applicable to the conventional banking system.
The law, which Warren first proposed in 2022 and then again in July of this year, would expand the obligations of the Bank Secrecy Act (BSA), which include Know-Your-Customer (KYC) requirements, to crypto wallet providers, miners, validators, and other network members, among other things.
The cryptocurrency lobby in the United States considers the proposed law to be a “killer” for the sector.
