John Deaton, a crypto lawyer currently campaigning for a Senate seat against Elizabeth Warren, has filed an amicus brief in support of Coinbase as the exchange appeals its case against the SEC. In an April 26 filing in the U.S. District Court for the Southern District of New York, Deaton submitted the brief on behalf of 4,701 Coinbase customers, representing their interests pro bono.
Deaton’s brief criticizes the SEC’s actions and argues that the regulator fails to adequately represent the interests of digital asset users and investors. He cites previous enforcement actions, including the case against Debt Box, where he alleges the SEC prioritized harming a crypto company over upholding truth and justice.
Deaton emphasizes the importance of independent representation for technology end-users, stating that they do not want biased or politically motivated agencies speaking for them.
While Deaton’s legal actions are separate from his Senate campaign, they may still influence the political landscape. His stance on digital assets contrasts with Elizabeth Warren’s, who recently called for stricter measures against crypto’s use in transactions involving child sexual abuse material. The legal dispute with Coinbase centers on the interpretation of the term “investment contract” under SEC rules, a crucial issue in the ongoing case.
With the Senate election approaching in less than six months, it remains uncertain how Deaton’s legal involvement will impact his campaign. Both Deaton and Warren hold divergent views on digital assets, adding complexity to their electoral competition.
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