Elizabeth Warren Is Creating an Anti-Crypto Rhetoric as Part of Her Reelection Campaign
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Elizabeth Warren – the democrat senator from Massachusetts – has built a reputation as one of the most anti-crypto people in Congress. Reports are now emerging from organizations like crypto lobbying group Coin Center suggesting that Warren is now building a major “anti-crypto army” as part of her reelection campaign.
Elizabeth Warren Still Hates Crypto
The headlines are leading to concern amongst digital currency fans, who believe that a bitcoin ban in the U.S. isn’t too far off the mark. Not too long ago, on Twitter, Warren announced:
I’m in this fight to put our government on the side of working families.
Warren has never been a digital currency fan. Not long ago, she adamantly criticized Fidelity, a 401K and retirement platform that announced it was going to let people invest their hard-earned retirement funds in digital assets like bitcoin. Warren took serious issue with this given she felt when people are retired, they are the most vulnerable. Their funds are likely going towards medical issues and other problems that tend to arrive when old age sets in.
Given how volatile and speculative digital currencies are, she’s been very much against Fidelity and similar companies allowing people to invest their remaining funds in items that could literally lose their value overnight. Last December, Warren took issue with the idea that bitcoin and other digital assets are often used to fund terrorism or that they’re utilized in malicious schemes. She said:
Rogue nations, oligarchs, drug lords, and human traffickers are using digital assets to launder billions in stolen funds, evade sanctions, and finance terrorism.
In a blog, Coin Center issued a warning to all digital currency traders in America. The warning centered on what’s known as the Restrict Act, a new bill that allegedly opens the door to a potential bitcoin and crypto ban in the U.S. The company explained:
Although the primary targets of this legislation are companies like TikTok, the language of the bill could potentially be used to block or disrupt cryptocurrency transactions and, in extreme cases, block Americans’ access to open-source tools or protocols like bitcoin.
The American government appears to have been on the crypto warpath ever since the collapse of FTX in November last year. Since that time, there appears to have been a lot more action against digital currency companies through agencies such as the Securities and Exchange Commission (SEC), which has gone after companies like Kraken and Coinbase.
Just Be Straight with the People!
Kevin Reynolds – a digital currency editor and writer – said:
If… authorities do intend to restrain that progress, they should declare that goal openly and pursue it through transparent democratic channels. I hope… the Biden administration is not out to kill crypto. Assuming that’s the case, the White House needs to clearly demonstrate its positive intent.
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