Elizabeth Warren Seeks to Establish New Congressional Crypto Committee
Elizabeth Warren – the “democrap” senator of Massachusetts – is, once again, sounding the alarm on the digital currency arena. She is allegedly concerned about the fall of FTX and the mishandling of funds by Sam Bankman-Fried, and believes that the space exhibits vulnerability like it never has before.
Elizabeth Warren Is Again Going After Crypto
Because of this, she is working to allegedly create a new bipartisan committee that will look at the problems surrounding the digital currency space. The committee will also be devoted to investor protection. Some of the other members of the organization will be GOP lawmakers like Roger Marshall, a senator from the state of Kansas who is also co-sponsoring the committee. He stated in a recent interview:
I want to emphasize how good her office has been to work with.
Senator John Kennedy of Louisiana is another Republican that allegedly see’s Warren’s side of things. He commented:
What matters to me is (Bankman-Fried) spread money around Capitol Hill like it was dishwater, and nobody stopped at the time to ask any relevant questions about this company.
While all this sounds fine and dandy – two sides of the political spectrum working together – it can be said that Warren has always been biased against crypto, and while she wants to push the bipartisanship of her committee and act like everyone is on the same plane, it’s hard to assume that her bias won’t continue, and this won’t be just another attempt to bring crypto down to the bottom of the financial totem pole.
Not long ago, Warren was very critical of Fidelity, a company that offers both 401K retirement and pension accounts to former workers, and attacked the firm for offering retiree clients the chance to invest in crypto assets with their funds. In a strongly worded letter, Warren described the situation involving Fidelity as such:
Bitcoin’s volatility is compounded by its susceptibility to the whims of just a handful of influencers. Elon Musk’s tweets alone have led to bitcoin value fluctuations as high as eight percent.
Not Everyone’s Enthused
There are many people out there that have been attacking Warren left and right and who say that it’s time for her to keep her big nose out of crypto politics given that she doesn’t seem to fully understand how the space works. Alex Sarabia – a spokesperson for Warren – issued the following statement in response to the recent verbal attacks:
The crypto industry has an army of lobbyists and Washington insiders fighting against bipartisan rules to prevent crypto money laundering by criminals and rogue nations like Iran and North Korea. There’s no reason that crypto should be held to a lower standard and not comply with the same rules for the same activities to address the same risks.
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