Elizabeth Warren is back at it, fighting against the Digital Asset Market Clarity Act. She posted a video making her stance crystal clear: “Vote no,” and she even said the bill should be dead
Elizabeth Warren is back at it, fighting against the Digital Asset Market Clarity Act. She posted a video making her stance crystal clear: “Vote no,” and she even said the bill should be dead before it hits the floor.
That didn’t sit well with John E. Deaton, the lawyer known for defending XRP. He fired back, saying Warren is really just looking out for big banks instead of letting smaller players have a fair shot in crypto.
So what’s this bill actually about? It tries to draw a clear line between when crypto falls under the SEC’s watch and when it belongs to the CFTC. People who support it say it would clear up a lot of confusion, make it easier for companies to build in the US, and give everyone a set of rules they can actually follow.
Warren isn’t backing down. She’s been one of the loudest voices against this bill from the start. Her argument is that the bill doesn’t do enough to protect everyday people and investors. She says it leaves too many holes that bad players could walk right through.
— Altcoin Daily (@AltcoinDaily) July 23, 2026
US Senator Elizabeth Warren says "Vote No" on the crypto Clarity Act:"This bill should be dead on arrival." pic.twitter.com/g4bPMlWRQi
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In her speech, she pointed to three big worries: money laundering, risks to the financial system, and conflicts of interest from politicians tied to crypto businesses. Her bottom line is, kill the bill unless they add stronger safety measures. She thinks it’s written more for the industry’s benefit than for the public’s.
That prompted a swift response from John E. Deaton, the lawyer who stood up for thousands of XRP holders during the Ripple case, shot back. He’s been one of the industry’s fiercest defenders, and he wasn’t about to let her claims go unanswered.
Posting on X, Deaton revisited comments he made in 2024, saying he has long viewed Warren as “the number one lobbyist for banks.” He argued that her public statements about consumer protection differ from the policies she supports.
in 2024, when I said Elizabeth Warren was the #1 lobbyist for Banks, local reporters or commentators looked at me like I was crazy. I said you have to ignore the rhetoric and the things that she says and look at what she does. She wants there to be 5-6 major banks that she gets… https://t.co/C2Emii17LR
— John E Deaton (@JohnEDeaton1) July 24, 2026
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Deaton claimed Warren prefers a financial system dominated by a handful of large banks and pointed to previous interviews in which she expressed support for exploring a consumer-focused central bank digital currency (CBDC).
Deaton argued that a retail CBDC would hand the federal government unprecedented visibility into financial transactions, calling it “the greatest act of government control over its citizens in American history.”Deaton has been clear from the start: he doesn’t want the government running its own digital dollar. He thinks decentralized cryptocurrencies give people more freedom and more choices than any centralized system ever could.
Read Also: Cardano’s Founder Warns Democrats Will Kill Clarity Act – “Crypto Is Now Partisan”
This back-and-forth between Warren and Deaton shows just how split the country is on crypto rules. One side says the CLARITY Act would finally give the US a chance to lead in blockchain tech, attract investment, and stop relying on lawsuits to figure things out. The other side says any crypto law needs tougher protections against scams, dirty money, and threats to the financial system before it moves forward.
Congress is still hashing it out. And however they land on this bill could shape the future of crypto in America, and decide whether coins like XRP get the clear rules they’ve been waiting for.
Elizabeth Warren argues that the CLARITY Act does not provide enough protections for consumers and investors. She has also raised concerns that the bill could increase the risks of money laundering, financial instability, and conflicts of interest involving cryptocurrency businesses. Warren believes lawmakers should strengthen those safeguards before considering the legislation.
What is the CLARITY Act in cryptoThe Digital Asset Market CLARITY Act is a proposed U.S. bill that aims to establish a clearer regulatory framework for cryptocurrencies. It seeks to define whether digital assets fall under the oversight of the Securities and Exchange Commission (SEC) or the Commodity Futures Trading Commission (CFTC), giving crypto companies greater regulatory certainty.
Why did John Deaton criticize Elizabeth WarrenJohn Deaton criticized Elizabeth Warren after she urged lawmakers to reject the CLARITY Act. The pro-XRP lawyer argued that Warren’s stance benefits large banks and limits competition from digital assets. He has also opposed her support for exploring a U.S. central bank digital currency (CBDC), saying it could give the government greater control over financial transactions.
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