News

Crypto Critic Elizabeth Warren Introduces New Bill To Crack Down On Bitcoin

Key Points:
  • Crypto critic Elizabeth Warren surprises people by introducing a bill to crack down on crypto.
  • Warren’s shift sparks criticism from digital currency supporters and accusations from Edward Snowden.
  • JPMorgan Chase CEO Jamie Dimon adds to the skepticism, declaring he would shut down crypto if he had the authority.
In a significant move, US Senator Elizabeth Warren has introduced a comprehensive bill aimed at regulating the burgeoning cryptocurrency industry. The proposed legislation is designed to “crack down” on the cryptocurrency sector, bringing it “into greater compliance” with existing financial regulations.

Crypto critic Elizabeth Warren Introduces Legislation To Crack Down On crypto

Previously, Warren, known for her critiques of the banking sector, raised eyebrows by labeling cryptocurrency as a “threat,” as reported by CCN. This stark departure from her usual stance has garnered criticism, particularly from Edward Snowden, the former NSA contractor and whistleblower.

During a Senate banking committee hearing, crypto critic Elizabeth Warren seemed to align herself with major banks, expressing agreement with their views on cryptocurrency regulation. This surprising shift has left supporters of digital currencies disapproving, with Snowden accusing Warren of being “bought and paid for by the banks.”

Crypto critic Elizabeth Warren defended her position, stating, “I am not usually holding hands with the CEOs of multibillion-dollar banks. But this is a matter of national security.” However, critics argue that her apparent pivot towards the banking sector contradicts her previous adversarial relationship with it.

Jamie Dimon, CEO of JPMorgan Chase, joined the chorus of skepticism, indicating that he would shut down crypto if given the authority. Despite JPMorgan‘s pioneering use of blockchain technology, Dimon has consistently criticized cryptocurrencies.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Recent Posts

Crypto Institutional Investors Move To ETFSwap (ETFS) Amid $500 Million Liquidity Injection Expectations

Discover why crypto investors are moving to ETFSwap (ETFS) as $500 million liquidity injection is…

1 hour ago

Buyers Rush to Maximise Gains with BlockDAG’s 100% Bonus Offer; Plus, ETH Holds Strong as Solana Challenges Rivals

Learn about BlockDAG's $110M presale achievement and the whopping 100% bonus offer, alongside Ethereum's growth…

3 hours ago

Thai Police Corruption Case Involving Officers and Extortion

Thai police corruption exposed as officers extort millions in USDT from a Chinese man under…

6 hours ago

SafePal Telegram Wallet Launches with Swiss Bank Accounts and CeDeFi

SafePal Telegram Wallet allows 950 million users to create compliant crypto-friendly Swiss bank accounts, integrating…

7 hours ago

Sheetz Crypto Payments Now Accepted at Over 750 US Locations

Sheetz crypto payments: 750+ US stores now accept Bitcoin, Ethereum, and more, rewarding customers through…

7 hours ago

Zhu Su Wife Sells Singapore Mansion for $38 Million

Zhu Su’s wife sells Singapore mansion for $38.5 million amid heightened financial scrutiny on Three…

8 hours ago

This website uses cookies.