Senator Elizabeth Warren Launches Anti-Crypto Campaign

By Kevin • April 2, 2023 10:40 am • Comments

It looks like there are many law makers that are still against the crypto industry which will ultimately slow down progress and innovation in the sector.

US Senator Elizabeth Warren just announced that she would be launching an anti-crypto re-election campaign in order to further her agenda.

It is no news for the crypto industry that Warren would do this considering that she has been vocal about her disapproval about Bitcoin being included in 401(k)s and the risks of crypto when FTX had collapsed.

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Whether or not this campaign will actually be successful is another story as the majority of her points seem to use crypto as the scapegoat of many bankruptcies even if the collapse had nothing to do with crypto itself.

It also seems quite convenient that this campaign gets launched during a time where crypto-friendly banks had announced bankruptcies.

Watcher.guru reports:

In one of her recent tweets, she mentioned that she’s joining the fight to put the government on the side of working families and also proposed $10 a day for childcare.

However, one notable thing that she mentioned is that she’s building an anti-crypto army.

Her statement comes at a time when the US has been scrutinizing the cryptocurrency industry. It all began with the closure of cryptocurrency-friendly banks, followed by the SEC tightening its regulations and suing cryptocurrency behemoths.

Analysts also claimed that the crackdown on the cryptocurrency industry is part of a bigger operation called Operation Choke Point 2.0 aimed at bringing down the cryptocurrency industry.

At the same time, Warren seems to also ignore the many inherent risks of the traditional banking system and the issues of just continually printing more fiat money supply.

Many expect her campaign to fail as many citizens are now facing issues such as rising inflation, loss of purchasing power, and loss of confidence in the banking system.

Data shows that the majority of young adults are in support of crypto and believe that it will be an integral part of the future.

As a result, when the younger generations start to make up the majority of the voting is block is likely when we will see more pro-crypto government policies.

As of now, the current resistance against crypto will only be temporary which means that Warren’s campaign will not gain any support.

Kitco.com concludes:

For the crypto community, this is yet another attack that follows a ramp-up in Operation Chokepoint 2.0, which is all part of a concerted effort to demolish the crypto industry in the U.S. As a result, the majority of the community has derided Warren’s move, while some, like Stacks (STX) cofounder Muneeb Ali, have been motivated to take action in opposition.

In a follow-up tweet from Ali, the developer highlighted the potential downside to this move that Warren may not have considered. “I voted for democrats: you’ve now lost my vote,” Ali wrote.

“I also donated to both Democratic & Republican Party members who were learning about Bitcoin & crypto. I’m pausing all political donations to democrats until they sort this with @SenWarren. Others in our industry should do the same.”

“Declaring war on technological progress is beyond ridiculous. Declaring war on open-source, freedom tech is beyond ridiculous,” Ali concluded.

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