There were no SEC vs. Ripple case-related updates for investors to consider. Nevertheless, the recent SEC Wells notice to Uniswap (UNI) was a reminder of the regulation through enforcement backdrop plaguing the US crypto market. The SEC moves against the crypto market returned focus to the US Presidential Election.
An ever-increasing number of SEC lawsuits against crypto firms could put greater focus on the US Presidential Election. In the run-up to the Presidential Election, the race for seats in the Senate will heat up. The race for the Massachusetts Senate seat will be the focal point for the crypto market.
Amicus Curiae attorney and CryptoLaw US founder John E. Deaton is up against Senator Elizabeth Warren for the seat. Ousting Senator Warren could be a boon for XRP and the broader crypto market. A crypto voice in the Senate may facilitate the progression of the Lummis and Gillibrand Responsible Financial Innovation Act.
A Deaton win could also end support for the Digital Asset Anti-Money Laundering Act.
Senator Warren is behind the Digital Asset Anti-Money Laundering Act. Senators Warren and Roger Marshall drafted the bill with the assistance of the American Bankers Association. The bill aims to introduce banking-style KYC and anti-money laundering regulations to impact the viability of the US digital asset space.
Politico published a crypto article regarding cryptos and the US Presidential Election on April 12. According to the article, crypto executives and enthusiasts have donated to the John E. Deaton campaign. Ripple CEO Brad Garlinghouse and co-founder Chris Larsen reportedly donated a maximum of $6,000 each.