United States Senator Elizabeth Warren (D-Mass.) is getting heat from the crypto community as she announced the ‘Anti-Crypto Army’ agenda as part of her campaign ahead of the upcoming re-elections.
Elizabeth Warren has long been vocal about her aversion to cryptocurrency, but her Anti-Crypto Army this time really got people’s attention.
The Crypto Twitter community is being ruthless saying Warren should resign from her position instead. Ethereum enthusiast sassal.eth tweeted “Please do us all a favor by resigning and deleting your account.”
Crypto podcast Bankless’ co-host Ryan Sean Adams twitter “Crypto gives power to the people. The power to own digital property. Anti-crypto is anti-American values. If democrats make this their policy they will lose.”
Last December, Senators Warren and Marshall proposed a crypto anti-money laundering bill to reduce the risks that cryptocurrencies and other digital assets pose to the national security of the US.l
The proposal by Warren and Marshall, which restricts financial privacy and labels miners and validators as MSBs, was obviously not well received by the community.
This latest anti-crypto army agenda comes at a time when regulators are already scrutinizing crypto-friendly banks and the crypto industry in general. Recently Signature Bank shut down with the regulators citing “a significant crisis of confidence in the bank’s leadership” as a reason.
But former U.S. Rep. Barney Frank noted that regulators wanted to send a very strong anti-crypto message with this shutdown. With the collapse of Terra, FTX, Celsius, etc regulators all around the world are tightening their rules on crypto but the thing is they don’t have any clarity on how the sector works.
The outcome of the re-election is critical because it won’t look good if anti-crypto folks are in charge given how difficult it is for the community to work with regulators as it is. It’s to be noted that the recent ‘Economic Report of the President’ was dedicated only to spreading “crypto FUD” that unveils the fear about digital assets prompting the U.S.
Also Read: Crypto Community Abhors Biden’s Presidential Economic Report
76% of the representative sample in a study conducted by Coinbase agreed that cryptocurrency and blockchain are the future. Similar thoughts were expressed in a study carried out by Grayscale Investments in November.
The strong anti-crypto message encourages people to concentrate more on using the traditional banking system, yet after Silicon Valley Bank’s recent failure, there is no other option for people except to submit to fate.
