US Senator Elizabeth Warren has said that she will collaborate with the crypto industry, but that collaboration must be under traditional finance rules. In an interview with Bloomberg, “I want to collaborate with the industry.” However, she confirmed that it must be in the context that governed the TradFi and the finance sector.
Warren said she doesn’t understand why the industry “has to be left open.” Specifically, she loquaciously expounded on all negative connections to crypto. Subsequently, she said that these “drug traffickers and the human traffickers” should not have the space within the industry to operate.
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Elizabeth Warren Willing to Collaborate, But Only Under Her Rules
Over the past several months, US Senator Elizabeth Warren has been vocal in her stance against the digital asset sector. Indeed, she has orchestrated the creation of an anti-crypto bill that is seeking massive changes to the industry.
Speaking to Bloomberg, Elizabeth Warren said she is willing to collaborate with the crypto industry, but under traditional finance rules. “I want to collaborate with the industry,” she said first. “What I don’t understand is why the industry seems to be saying that the only way that they can survive is if there’s plenty of space for drug traffickers and human traffickers.”
Warren continued, “Oh, and the terrorists and the ransomware scammers and the consumer scammers and the rogue nations, North Korea that this financing about half of its nuclear missile program wit crypto, that all of that has to be left open.”
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Additionally, Warren opined that the financial system operates with “pretty much everybody” adheres to the same rules. “I’m talking banks and credit unions and credit card companies, gold trades, and stockbrokers. Private equity has to follow the rules. Precious metal dealers, Venmo, Western Union, but not crypto.”
Then, Warren claimed she just wants “a level playing field here if you are part of the financial system moving around literally billions of dollars.” Furthermore, she stated her inability to understand “a defense that says no,” to crypto’s desire to remain decentralized.
Finally, the US Senator addressed her upcoming opposition to pro-crypto lawyer John Deaton. Specifically, she said she could have “tens of millions of dollars in crypto backpacks that could be weaponized,” against her campaign. Warren once again shows she is willing to share her views, with little time for why opposing ones would exist.
