In a recent interview with Generation Infinity, John Deaton, a prominent advocate in the cryptocurrency space, announced his candidacy for the U.S. Senate seat from Massachusetts. Deaton has made headlines not only for his political ambitions but also for his strong opposition to a central bank digital currency (CBDC) issued by the Federal Reserve.

Deaton argues that while a CBDC could potentially improve the efficiency of the banking system, he firmly believes that a consumer-issued CBDC poses significant risks. He warns that such a digital currency could replace cash, granting the government unprecedented power to monitor and potentially limit individual spending. He has also taken aim at Senator Elizabeth Warren’s endorsement of a CBDC, asserting that it could hinder the adoption of decentralized cryptocurrencies like Bitcoin (BTC).

In addition to his views on CBDCs, Deaton has called for greater government accountability and fiscal responsibility. He advocates for implementing term limits for senators and representatives, arguing that extended tenures stifle innovation and reduce accountability in Congress. Furthermore, Deaton expressed concern over the revolving door between regulatory roles and the private sector, proposing a mandatory three to five-year waiting period before former regulators can take positions in the industries they once oversaw.

Deaton’s campaign also emphasizes the urgent need for clear regulatory frameworks within the cryptocurrency sector. He criticized the current approach taken by the U.S. Securities and Exchange Commission (SEC) and shared insights from his advocacy for XRP holders. Deaton noted that the lack of regulatory clarity has prompted many innovators and companies to shy away from the U.S. market, with some choosing to exclude American consumers altogether in recent years. His campaign promises to push for a more conducive regulatory environment that supports innovation while protecting investors.