Elizabeth Warren Uses Ant-Crypto Stance to Woo Voters

U.S senator Elizabeth Warren is using her public ant-bitcoin stance in her campaign bid for a re-election. Warren who is notorious for criticizing Bitcoin in a tweet suggested that she would fight against crypto to “put our government on the side of working families.”

Warren had used the collapse of FTX as a case study to argue that cryptocurrencies will destroy the U.S economy and should eliminated. She earlier introduced an anti-money laundering bill that seeks to enforce AML laws found in traditional finance into decentralized finance, to be binding on miners, blockchain validators and unhosted wallets

Warren Faces Backlash

As expected, crypto advocates quickly responded to the senator’s tweet. While some say her anti-crypto stance will kill her chances of re-election, some said that such a philosophy will kill crypto innovation all together if it continues.

Indeed, Warren may have a hard time winning with such a campaign idea because a lot of U.S citizens believe crypto is the future as revealed by a recent Coinbase poll. This is in spite of incidences like the FTX and Terra collapse which should have destroyed confidence in crypto. As a matter of fact, some victims of FTX collapse that are calling for reviving the exchange.

The U.S Anti Crypto Stance

Warren isn’t the only key U.S figure that is against the crypto industry. This is evident in the recent wave of crackdowns on crypto companies like Binance. If this trend continues, crypto innovation may die in the country but certainly not globally because many countries are welcoming crypto right now.

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