John Deaton: Elizabeth Warren helps Gary Gensler fight against cryptocurrencies

A lawyer defending the interests of cryptocurrency companies was outraged that at the Senate hearings, the leadership of the US Securities and Exchange Commission (SEC) was asked only prepared questions on the topic of cryptocurrencies.

John Deaton claims that Senator Elizabeth Warren, who was tasked with overseeing the SEC, violated her oath as a member of the Supreme House of Parliament. The lawyer draws attention to the fact that records Fox News shows that the Democratic parliamentarian prepared SEC Chairman Gary Gensler for the Senate hearings in advance.

The TV segment talks about emails obtained from Warren’s office, which show that the senator’s economic adviser sent Gensler a list of questions the senator planned to ask at the hearing, as well as suggested answers. The adviser asked Gensler to let him know whether he agreed with the wording of the questions presented, so as not to get into a difficult situation. During the hearing, Warren asked questions from the email almost verbatim, the TV report explicitly states.

Warren is considered the most outspoken critic of cryptocurrencies in the US Congress. However, she did not ask Gensler about the former head of the bankrupt crypto exchange FTX, Sam Bankman-Fried, John Deaton is perplexed. The senator did not question why Gensler allowed the FTX fraud to happen, given his numerous meetings with Bankman-Fried.

The lawyer reproached the SEC for insufficient interaction with the CEO of the American crypto exchange Coinbase, Brian Armstrong, and its general counsel, Paul Grewal, despite the fact that Coinbase is persistently seeking a dialogue with the regulator.

In July, the human rights group Blockchain Association suspected the SEC of colluding with the crypto company Prometheum, which received a special broker-dealer license. The association argues that this prevents clarity in the regulation of cryptocurrencies.