Senator Elizabeth Warren, a well-known critic of cryptocurrencies, surprised the digital assets industry by expressing her desire to work with President Donald Trump and Senate Republicans to address the practice of debanking. During a Senate hearing, Warren acknowledged that debanking is a real problem and expressed her support for crypto industry leaders who have been denied banking services. This change in tone may have come as a surprise as Warren has been regarded as an enemy by the crypto community for many years. Some crypto leaders have blamed Warren for allegedly pressuring banks not to serve crypto-related clients. Despite this, Warren assured the industry witnesses that she believed they should not be locked out of the banking system. Warren also emphasized the role of the Consumer Financial Protection Bureau (CFPB) in addressing debanking practices and called for a strong CFPB to work with the president to combat this issue. She also highlighted other groups that have been targeted for debanking, such as nonprofits, the cannabis industry, ex-felons, and Muslim Americans. Although Warren's stance was unexpected, crypto leaders appeared somewhat caught off-guard by her supportive questions and calls for stronger regulations to prevent banks from refusing customers.



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