Elizabeth Warren Has Declared War on Crypto

The Breakdown


The crypto community is extremely fond of the apocryphal Gandhi phrase, first they ignore you, then they laugh at you, then they fight you, then you win. We have a tendency to pretty much always think we've entered the then they fight you phase, but as of this quarter, I think it's pretty much official that we are now well and truly into the then they fight you face. The breakdown has had numerous shows about operation choke .2 and what seems like a coordinated effort to deplatform crypto companies from U.S. banking and in general push crypto offshore. But just in case there was any doubt, any doubt at all. Yesterday, Elizabeth Warren, the self styled emperor of the crypto antagonists, announced her formal reelection campaign for her Senate seat in Massachusetts. To do so, she released a video on a series of graphics with her looking determinedly off camera, with a big blaring headline that had been recently written about her. Some of the accomplishments highlighted included, subsidized child care, and over the counter hearing aids, great things for sure. But that wasn't all she chose to focus on. And what she did focus on would overshadow all of it. The image she chose to start that video, the headline reads Elizabeth Warren is building an anti crypto army. The headline is drawn from a February article in Politico, which covered the senator's sponsorship of the digital asset anti money laundering act last year. That act would require software providers and blockchain validation infrastructure operators to record significant personal information about protocol users and proactively generate money laundering reports without any government requests for information. Coin center called the bill unconstitutional and said it was, quote, a direct attack on technological progress, and also a direct attack on our personal privacy and autonomy. Of course, that's not Warren's only attack on crypto. Since this time last year, senator Warren has sent at least 15 letters on the topic of crypto to regulators, companies, and even the FTX bankruptcy judge. She's also sponsored at least two bills which were dramatically increased the data collection requirements within the crypto industry.

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