United States Democratic Senator Elizabeth Warren, who is one of the most influential politicians, launched her re-election campaign yesterday, focusing on “building an anti-crypto army”. Although the efforts of Warren’s opponents against Bitcoin and crypto are nothing new, the choice of words as well as the main role are particularly frightening.
In his latest Twitter post, he called on his followers to join the campaign and praised his past plans and achievements. His accomplishments include providing over-the-counter hearing aids and reducing child care costs in the state of Massachusetts — but also the formation of an “anti-crypto army.”
I joined this fight to put the government on the side of working families. Join the re-election campaign today: https://t.co/KuZwvrwkqT pic.twitter.com/fCUcqE9PZM
– Elizabeth Warren (@ewarren) March 29, 2023
With this, Warren referred to a Politico article of February 2023, which stated that “progressive Democrats” began to recruit conservative Republicans in the Senate for their anti-crypto movement, and brought together “progressives and conservatives, watchdog groups and bankers, who share a common cause because they want to destroy Unexpected crypto growth.
Warren’s efforts to crack down on the industry culminated in the introduction of the Digital Asset Anti-Money Laundering Act of 2022 in December, although the bill was opposed by other Republicans and Democrats.
In February, Warren promised to reintroduce the bill this year. Pretext, as in her re-election campaign: Elizabeth Warren wants to protect “the most vulnerable” from digital assets.
Because of this, they plan to implement an anti-money laundering (AML) policy, even for DeFi platforms and self-hosted wallets. Additionally, Warren wants to ban the use of mixers.
Coin Center, a non-profit focused on the policy issues facing cryptocurrencies, called conduct “an opportunistic, unconstitutional attack on the rights of custody, developers, and node operators.” Jerry Brito, executive director of Coin Center added that this is “the most direct attack on personal freedom and privacy of cryptocurrency users and developers that we have yet seen.”
Warren Teams Up With SEC In Battle Against Crypto
More explosively, in January 2023, it was revealed by the Heritage Foundation that Warren apparently collaborated with the head of the US Securities and Exchange Commission (SEC) Gary Gensler to run the Choke Point 2.0 operation.
The organization reported that Warren sent questions and answers to the SEC chairman before a hearing before Congress in January and even asked if he agreed with his words.
🚨 🚨: What is this @SenWarrenStaff ‘s do coordination questions & testimony with officials from the Securities and Exchange Commission before the leader testifies before the Warren committee in 2021? @jasoninthehouse remove emails viewed by Surveillance Project: pic.twitter.com/swFomkew8x
– Heritage Foundation (@Heritage) January 27, 2023
In addition, the threat of backdoor bans on private cryptocurrency transactions is now seen by some experts as a result of the RESTRICT action. Messari CEO Ryan Selkis today retweeted an assessment by JW Verret, an associate professor at George Mason Law School.
The last one write via Twitter that “this bill can and will be used to ban crypto and other privacy tools. Congressman Tom Emmer, we need your help on this.
At press time, the price of Bitcoin continues to grow in the new macroeconomic environment and the brewing banking crisis, trading at $28,577.
Options images from CNBC, charts from TradingView.com