Senator Warren Resumes Anti-Crypto Crusade

 

No BTC-spot ETF related updates surged during the past weekend. However, this did not stop Senator Elizabeth Warren from influencing buyer demand for BTC and altcoins:

“A new US GAO report confirms that rogue nations are using crypto to dodge sanctions and undermine our national security. It’s time for crypto to follow the same anti-money laundering rules as everyone else. I’ve got a bill to make it happen.”

It is not the first time that Warren refers to the US Digital Asset Anti-Money Laundering Act. The bill is set to impose banking-style AML and countering the financing of terrorism frameworks onto crypto platforms.

Warren has very blatant history with associating crypto to illicit activity. 

In fact, that’s what she had to say in December 2023:

"The Treasury Department is making clear that we need new laws to crack down on crypto's use in enabling terrorist groups, rogue nations, drug lords, ransomware gangs, and fraudsters to launder billions in stolen funds, evade sanctions, fund illegal weapons programs, and profit from devastating cyberattacks."

Not only this, but she did not hesitate to publicly state her opposition to the Bitcoin ETF approval… Warren went to the extent of calling the SEC “wrong”, voicing her concerns in a statement on X (formerly Twitter).

 

It is important to understand that Warren’s disapproval of the SEC’s decision revolves around her belief that the regulator is not adequately addressing the legal and policy implications of deeper crypto integration, specifically with BTC into the financial system.

On Monday, the Fear & Greed Index saw a slight decrease from 56 to 55. Despite the dip, the index managed to maintain its position in the Greed zone, indicating a positive shift in investor sentiment despite the Senator’s remarks.

Nevertheless, some other factors might influence investor’s opinions and market sentiment as a whole:

• Ongoing SEC battles with both Coinbase and Binance.
• Scrutiny from US lawmakers.

Unfavourable regulatory announcements or news regarding the SEC’s stance on cryptocurrencies could potentially impact the overall demand for digital assets. Additionally, any reversal in the recent trend of funds flowing into the newly launched product might also have an impact on the industry.