Sen. Elizabeth Warren (D-Mass.) reiterated the necessity for strong cryptocurrency regulation Sunday, criticizing the current method as a corporate giveaway that “supercharges” President Donald Trump’s corruption.
Don’t Need Regulation Written By Crypto Industry, Says Warren
Warren posted her interview with MSNBC, in which she discussed the current state of cryptocurrency legislation.
“Look, we need crypto regulation, but we don’t need the regulation written by the crypto industry that supercharges this kind of corruption,” Warren argued. “We need regulation that limits the corruption in the ability of elected officials to trade in it.”
The senator also voiced concerns about the potential misuse of cryptocurrency by “terrorists and drug traffickers” and the need for strong consumer protection in the law.
The White House didn’t immediately return Benzinga’s request for comment.
Warren’s Persistent Criticism Of GENIUS, CLARITY Bills
Warren’s remarks echoed her earlier criticisms of cryptocurrency-related bills, including the GENIUS Act and the CLARITY Act. She previously stated that these bills fail to address corruption, particularly concerning Trump’s family’s ventures, such as the Official Trump (CRYPTO: TRUMP) memecoin and the USD1 dollar-pegged stablecoin.
The senior lawmaker also criticized Democratic lawmakers’ support for the cryptocurrency bills and the prioritization of industry interests over public demands for a fair economy and affordable living.
Trump reported incomes exceeding $57 million from World Liberty Financial, the firm behind USD1, in his latest disclosure. When asked about the meme coin, Trump refuted claims that he is financially benefiting from the venture.
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Photo: Shutterstock/Sheila Fitzgerald
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
