John Deaton Expresses Opposition to Federal Digital Currency

user avatar

by Giorgi Kostiuk

2 years ago


John Deaton, a prominent voice in the cryptocurrency space, has made his position clear in his run for the United States Senate seat in Massachusetts, emphasizing his opposition to a Federal Reserve-issued central bank digital currency (CBDC) and the necessity of regulatory clarity.

Opposition to Federal Digital Currency

In an interview with Generation Infinity, Deaton discussed his opposition to a Federal Reserve-issued central bank digital currency (CBDC), asserting that such currency could replace cash and allow the government to monitor and restrict individual spending.

If there's a CBDC that's used by the government to reduce friction [...] with the banking system or something like that, that's one thing. But a consumer-issued CBDC by the Federal Reserve? No, that's a hill I'm willing to die on to oppose.John Deaton

Accountability Concerns

Deaton also addressed government accountability and fiscal responsibility, advocating for term limits for senators and representatives. He argued that long-term incumbency leads to a lack of fresh ideas and accountability in Washington.

You shouldn't be allowed to be the SEC chairman on Friday, and on Monday, you're Apollo Group's adviser [...] there should be a three to five statutory gap from being a regulator and then going into a job in that industry.John Deaton

Call for Regulatory Clarity

In addition to his stance on CBDCs, Deaton highlighted the necessity for clear regulations in the cryptocurrency industry, criticizing the approach of the US Securities and Exchange Commission (SEC). He pointed out that the lack of regulatory clarity has caused some innovators to avoid the US market.

When I took on the SEC, on behalf of XRP holders, what I said from the very first writ of mandamus was just say that XRP itself isn't a security. That's all you've got to do, which is follow the law of 75 years.John Deaton

John Deaton clearly defined his position on key issues regarding cryptocurrency and financial policy, aiming to ensure transparent and accountable regulation for the benefit of citizens.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Birdeye Unveils Peak, a New Terminal for Institutional Crypto Research

Birdeye has launched Peak, a new terminal aimed at institutional crypto researchers, consolidating various data and analysis services into one professional workspace.

user avatarMaya Lundqvist

Google Implements New Advertising Policy for Crypto Providers in UAE

Google has announced new licensing and certification requirements for crypto exchanges and software wallet providers targeting customers in the United Arab Emirates.

user avatarLeo van der Veen

Meta's Board Approves New Class of Nonvoting Stock

Meta's board has approved the creation of Class C nonvoting shares to be distributed to existing Class A and Class B shareholders, effective January 19, 2027.

user avatarLi Weicheng

Meta's Financial Strategy Ensures Founder Control

Meta's financial strategy includes plans to potentially raise hundreds of billions in equity while ensuring Mark Zuckerberg retains control over the company.

user avatarAisha Farooq

BitGo Introduces BitGo Labs to Innovate in AI and Cryptocurrency

BitGo has launched BitGo Labs to develop AI-integrated applications for its digital asset infrastructure, starting with the Gokubu app.

user avatarTenzin Dorje

TRON Solidifies Its Position as a Leading Blockchain Network for Stablecoin Settlement

In Q3 2026, TRON reinforced its position as a leading blockchain network for stablecoin settlement, achieving trillions in transaction volume and a record supply of USDT.

user avatarBayarjavkhlan Ganbaatar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.