Elizabeth Warren Gets A Strong Reaction From The Crypto Community

Key Points:

• The plan to establish an anti-crypto army of Senator Elizabeth Warren is receiving much criticism from the public.
• Conservatives are chastising Senator Roger Marshall for collaborating with Democratic politicians on encryption legislation.

Three US conservative groups oppose the work of Republican Senator Roger Marshall and Democratic Senator Elizabeth Warren and Chris Van Hollen on digital asset legislation.

The three US conservatives, the Club for Growth, Americans for Tax Reform, and FreedomWorks, said in the letter:

“We appreciate your leadership on past issues such as school choice and opposing COVID-19 vaccine mandates. However, we are extremely disappointed in your effort to attack digital asset companies, working with Senators like Elizabeth Warren and Chris Van Hollen, two leaders who have long track records limiting economic freedom.”

It is reported that the letter was sent after Roger Marshall, Elizabeth Warren, and others sent letters criticizing Binance.

Marshall is a member of the Senate Agriculture Committee, which oversees the Commodity Futures Trading Commission, and last year co-authored anti-money laundering legislation targeting digital assets with Warren. He, who has been one of the Republican Party’s critics of digital assets, has joined Warren in recent months in questioning Silvergate Bank and Binance.

In recent years, conservative organizations have grown increasingly involved in digital asset problems. During the last election season, the Club for Growth established a pair of crypto-focused super PACs with limitless funding. Last October, FreedomWorks sponsored a cryptocurrency conference at its offices in Washington, D.C., and the libertarian-leaning Americans for Tax Reform often chime in on crypto matters.

Not only that, but the crypto community is also very bitter about Elizabeth Warren’s plan to suppress crypto.

Coin Bureau, a popular YouTuber, mocked the tactic uses:

Warren has long been a strong opponent of cryptocurrency, even suggesting in a Wall Street Journal op-ed shortly after the collapse of crypto exchange FTX that it would damage the economy.

In February, Warren promised to reintroduce an anti-money laundering (AML) measure she had previously championed, which would extend to decentralized finance (DeFi) and decentralized autonomous organizations (DAOs), as well as require unhosted wallets, miners, and validators to apply AML regulations.

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