The crypto community has grown increasingly vocal in their criticism against the actions of US conservative Senators like Elizabeth Warren, who have long had a track record of limiting economic freedom. In recent months, the senators have been highly critical of cryptocurrency exchanges, such as Silvergate Bank and Binance. These sentiments have been echoed by conservative organizations, who have set up crypto-focused super PACs, held cryptocurrency conferences, and made statements against Elizabeth Warren's plans to stifle the crypto industry.

Coin Bureau, a popular crypto YouTuber, mocked the tactic of making an 'anti-crypto arm' in an attempt to gain more votes. Warren has sought to further her anti-crypto attitudes from her Wall Street Journal op-ed in the wake of the 2014 failure of the crypto exchange FTX. More recently, she promised to reintroduce an anti-money laundering measure and extend it to DeFi and DAOs. Her proposal entailed unhosted wallets, miners, and validators to have to apply AML regulations.

The crypto world has been inextricably linked with the concept of economic freedom, allowing people to secure a greater financial independence. Therefore, it is no surprise that the crypto community has come out against Elizabeth Warren and other like-minded senators. Although Financial crime is a legitimate concern, the crypto community see Warren’s proposals as misguided and potentially damaging to crypto innovation. It will be interesting to see how all of this unfolds, with tension between crypto, conservative senators and the crypto community likely to continue for some time.



Other News from Today