US Sen. Elizabeth Warren called out cryptocurrency’s role in fentanyl drug transactions and pushed for her bill to combat money laundering during a congressional hearing on Wednesday. The Massachusetts Democrat, and longstanding crypto critic, said her bill, the Digital Asset Anti-Money Laundering Act, will close loopholes “in our anti-money laundering rules and cuts off drugs…
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Senator Cynthia Lummis noted that Signature Bank’s Scott Shay mentioned digital assets 10 times in his testimony about the bank’s collapse. A former Signature Bank executive has been slammed for seemingly trying to place the blame for his bank’s collapse on crypto while purportedly being able to pocket millions in bonuses and stock options. During…
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On Friday Florida’s governor Ron DeSantis signed legislation that bans the use of a central bank digital currency (CBDC) in the state. Following the bill SB 7054 being signed into law, Florida’s Uniform Commercial Code (UCC) now explicitly forbids the use of a federally adopted CBDC as money. Florida Puts the Brakes on CBDCs The…
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Democratic Sen. Elizabeth Warren has plans to reintroduce a cryptocurrency bill to crack down on money laundering and terrorist financing. The long-standing crypto critic said she planned to reintroduce that legislation during a Senate Armed Services Committee hearing on Thursday…. Read More: Sen. Warren Plans To Reintroduce Crypto Bill To Crack Down on National Security…
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Senators Elizabeth Warren and Roger Marshall want to make your crypto wallet illegal — and their plan runs contrary to the principles they campaigned on. In 2022, Massachusetts Senator Elizabeth Warren authored a bill that would require cryptocurrency wallet providers to comply with bank Anti-Money Laundering rules. Not crypto exchanges, mind you, but the wallets…
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US Senator and well-known crypto-critic Elizabeth Warren has joined hands with Congresswoman Alexandria Ocasio-Cortez in asking for more details about Silicon Valley Bank’s (SVB) dealings with crypto companies. The two politicians said in letters sent to some of SVB’s largest clients that they would like to get more information about how long the companies had…
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Circle and BlockFi executives were questioned after the lawmakers accused Silicon Valley Bank of “coddling” and giving “white glove” treatment to its largest depositors. Executives at the stablecoin issuer Circle and the bankrupt cryptocurrency lender BlockFi have been questioned by two members of Congress investigating the so-called “mutual backscratching arrangements” alleged to have taken place…
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The United States’ attempts to “assassinate crypto” are illegal and unlikely to succeed because “crypto is global,” Steven Boykey Sidley, a South African professor and author, has argued. According to Sidley, many formerly U.S.-based companies and innovators have fled the country and have set up bases in countries with more “comfortable” regulatory environments. The United…
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Elizabeth Warren, the Democratic senator from Massachusetts, has recently launched a political campaign against cryptocurrencies as she seeks a third term in office in 2024. In a recent interview on “Meet the Press Reports” with NBC’s Chuck Todd, Warren likened buying bitcoin to “buying air.” Despite her stated distrust of banks, Warren told the show…
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Elizabeth Warren has long been a crypto-critic, and appears to be making it a focus as her re-election bid kicks off. United States Senator Elizabeth Warren of Massachusetts is making her “anti-crypto” agenda one of the centerpieces of her re-election campaign, despite polls suggesting the majority of Americans think crypto is a key innovation for…
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