In a recent revelation by John E. Deaton, the founder of Crypto-Law.us, a startling 20% of the U.S. Senate has reportedly rallied behind a de facto ban on cryptocurrencies, including Bitcoin. Deaton asserts that Senator Elizabeth Warren, representing Massachusetts, is spearheading this movement to dictate and dominate the narrative around crypto.
Deaton’s vocal disapproval of Senator Warren reached a crescendo in his latest social media post on X (formerly Twitter), branding her as the “Single biggest threat to freedom in the United States.” This outcry stemmed from Ryan Selkis, founder of Messari, who cautioned the community against underestimating Senator Warren’s capacity to undermine the digital landscape within the country significantly.
The Unseen Threat In Crypto’s Legislative Arena
Selkis emphasized that community members are battling to safeguard their careers, citing Senator Warren as their primary adversary, despite her name potentially not surfacing in the final bill targeting crypto—a bill with substantial prospects of congressional approval. Drawing attention to a post by Tom Dunleavy, CIO at MV Capital, Selkis highlighted Senator Warren’s lackluster performance in sponsoring successful bills during her Senate tenure.
Dunleavy’s analysis revealed that none of the 344 bills Senator Warren has sponsored since 2015 have managed to pass through legislation. Yet, despite this track record, the community remains wary of her, particularly due to her vehement stance against digital assets.
Senator Warren recently backed a bill mandating the Financial Crimes Enforcement Network to issue guidelines on digital assets and related matters. However, her actions failed to resonate positively within the crypto sphere, resulting in widespread criticism from industry stakeholders. Many within these circles view preventing her return to the Senate, especially in the upcoming elections, as the most effective strategy to counter her anti-crypto initiatives.
The tension between Senator Warren and the crypto community continues to escalate, intensifying concerns about the future of digital currencies in the United States. The industry is vigilantly monitoring this unfolding saga, strategically devising countermeasures against what they perceive as an imminent threat to the digital currencies landscape in the nation.