John Deaton Opposes US Federal Reserve’s CBDC, Cites Threats to Financial Freedom

• John Deaton strongly opposes the Federal Reserve’s plan for a consumer-issued CBDC.
• Deaton cites threats to financial freedom and criticizes government overreach.
• Deaton’s anti-CBDC stance targets younger voters, with a focus on crypto-friendly regulations.

Pro-crypto attorney John Deaton has firmly opposed the Federal Reserve’s plan to issue a central bank digital currency (CBDC). 

In a recent interview, Deaton stressed that implementing a federally issued CBDC poses a significant threat to individual financial freedom, warning that it could give the government unprecedented control over personal financial transactions.

Deaton, who recently won the Republican primary in Massachusetts, is seeking to unseat Senator Elizabeth Warren in the upcoming elections. He has expressed his concerns about government overreach and emphasized the importance of protecting financial autonomy. 

He firmly stated that while using CBDCs to improve banking system efficiency might be reasonable, he opposed a consumer-level CBDC issued by the Federal Reserve. Deaton said such a move would jeopardize personal financial freedom, an issue he described as “a hill to die on.”

The attorney also attacked Senator Warren’s stance on cryptocurrency, highlighting her support for a bill that could ban Bitcoin and restrict self-custody of digital assets in the United States. 

Deaton argued that several lawmakers initially backed the bill without fully understanding its implications but have since retracted their support. He reiterated his dedication to ensuring that the crypto industry has clear and fair regulations, which he believes are essential for innovation and consumer protection.

Drawing on his legal experience defending XRP holders in the lawsuit against the Securities and Exchange Commission (SEC), Deaton emphasized the need for transparent rules in the crypto space. He pointed out that regulators should follow existing laws, such as acknowledging that XRP is not a security.

Deaton’s stance against the Federal Reserve’s CBDC and his broader pro-crypto platform has gained attention from various groups, particularly younger voters more inclined toward technological advancements.

With the support of the Stand With Crypto PAC, Deaton’s campaign is gaining momentum as he seeks to bring transparency and accountability to government policies.