Sen. Elizabeth Warren calls crypto the ‘new shadow bank‘
The Massachusetts senator said that it’s “worth considering” banning U.S. banks from holding the reserves to back private stablecoins. United States Senator Elizabeth Warren, one of the most vocal cryptocurrency skeptics in the U.S. government, has called the cryptocurrency industry the “new shadow bank.”In a Sept. 5 interview with the New York Times, Warren said that the cryptocurrency industry offers “many of the same services” as shadow banks, but still lacks “consumer protections or financial stability that back up the traditional system.” Warren expressed concerns over the rapidly....
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Crypto regulation has been a hot topic lately in the United States. The Infrastructure Bill has been one of the most talked-about bills in the crypto industry. Senators have usually taken a stand for or against favorable crypto regulations. And for the most part, the House has been divided on what should be done with […]
US Senator Elizabeth Warren sees several issues with bitcoin and other cryptocurrencies. She said that “we need a good strong regulatory agency that can continue to update,” claiming that cryptocurrencies invite “investors to come in without the ordinary protections of the transparency and disclosures and auditing.” Elizabeth Warren Bashes Bitcoin and Other Cryptocurrencies Elizabeth Warren, the U.S. senator from Massachusetts, was asked about cryptocurrency, bitcoin, and how they should be regulated in an interview with Influencers’ Andy Serwer on Yahoo....
Senator Elizabeth Warren has written a letter to the CEO of the New York bitcoin mining firm Greenidge Generation, Jeff Kirt, asking for details on the company’s emissions. Warren’s letter insists “Greenidge and other [bitcoin mining] plants raise concerns about their impacts on the global environment.”
Elizabeth Warren Takes Aim at Bitcoin Mining Operations
The former law professor and the United States Democratic Party senator from Massachusetts, Elizabeth Warren, has taken aim at cryptocurrency mining operations after she criticized digital....
Prominent figures in the crypto community have come forward to address comments made by Senator Elizabeth Warren. In a letter to Treasury Secretary Janet Yellen, Senator Warren spoke of the risks associated with crypto, calling on Yellen to introduce a “comprehensive and coordinated framework.” In other words, to bring tougher regulation that would more than […]
U.S. Senator Elizabeth Warren criticized Bitcoin and cryptocurrencies yesterday in a Banking Senate Subcommittee hearing. In the hearing, Warren criticized the energy consumption that Bitcoin and other proof-of-work (PoW) cryptocurrencies need to operate. Warren also thinks cryptocurrencies are the “wild west” of investments and called for a regulatory crackdown on the industry. Some on social media were quick to bite back, however, pointing out Warren’s flawed logic and perceived hypocrisy. Senator Elizabeth Warren Takes on Bitcoin Senator Elizabeth Warren declared her....