Crypto community voices skepticism of Elizabeth Warren’s crypto bill
The crypto community is up in arms over the U.S. Senator’s attempt at introducing a bill skeptics say is aimed at curbing crypto currency growth and innovation. With the crypto community on edge after a tumultuous year that has seen the insolvency of FTX and problems at Binance, regulatory winds could well be on the horizon. U.S. Senator Elizabeth Warren has introduced a new bill aimed at regulating crypto currency. On Dec. 11, Warren introduced what is dubbed the Digital Assets Anti-Money Laundering Bill. The has already received support from several over Senators Raphael Warnock (D-Ga.), Laphonza Butler (D-Calif.), Chris Van Hollen (D-Md.), John Hickenlooper (D-Colo.), and Ben Ray Luján (D-N.M.). The new bill expands the provisions of the Bank Secrecy Act to include a wide range of counterparties to include not only exchanges miners and validators, but also service providers, custodians and crypto wallet entities themselves. The crypto community believes the bill will not...