Elizabeth Warren
- MAMassachusetts
- Senior Senator
Elizabeth Warren (D)
MassachusettsSenior SenatorOffice:
311 Hart Senate Office Building Washington DC 20510
Memberships:
- Senate Committee on Armed Services
- Senate Committee on Banking, Housing, and Urban Affairs
- Senate Committee on Finance
- Senate Special Committee on Aging
Terms:
- 2025 to 2031 - MA Senator
- 2019 to 2025 - MA Senator
- 2013 to 2019 - MA Senator
Add An Item To Elizabeth Warren's Record
Elizabeth Warren's Record on Bitcoin, Cryptocurrencies, and Blockchain
- 8/16/2021, 6:46:02 PM
Negative. +1
Sen. Warren's opening remarks during a Economic Policy Subcommittee hearing: "Second, crypto is a lousy investment. Unlike, say, the stock market, the crypto world currently has no consumer protection – none. As a result, honest investors and people trying to put aside some savings are at the mercy of fraudsters." "Third, crypto has become a haven for illegal activity. Online theft, drug trafficking, ransom attacks, and other illegal activity have all been made easier with crypto." "Finally, there are the environmental costs of crypto. Many cryptocurrencies are created through “proof-of-work” mining that involves using computers to solve useless mathematical puzzles in exchange for newly minted cryptocurrency tokens. Such mining has devastating consequences for the climate." "Meanwhile, cryptocurrency has created opportunities to scam investors, assist criminals, and worsen the climate crisis. The threats posted by crypto show that Congress and federal regulators can’t continue to hide out, hoping that crypto will go away. It won’t. It’s time to confront these issues head on."
Reference LinkSubmitted By: Anonymous - 8/16/2021, 6:30:59 PM
Negative. +1
Sen. Elizabeth Warren urged Treasury Secretary Janet Yellen on Tuesday to identify and remedy risks posed by cryptocurrencies and to craft a “comprehensive and coordinated” framework through which federal agencies can continually regulate virtual coins. “FSOC must act quickly to use its statutory authority to address cryptocurrencies’ risks and regulate the market to ensure the safety and stability of consumers and our financial system,” the Massachusetts Democrat wrote in a letter to Yellen. “As the demand for cryptocurrencies continues to grow and these assets become more embedded in our financial system, consumers, the environment, and our financial system are under growing threats,” she added.
Reference LinkSubmitted By: Anonymous - 8/16/2021, 6:23:02 PM
Negative. +1
Sen. Elizabeth Warren told CNBC on Wednesday she’s skeptical that bitcoin will prove to be a reliable hedge against inflation over the long run, a key reason some investors choose to own it. “People can make their own investment decisions, but to do that somehow assumes two things. One is that what’s happening with bitcoin or any other cryptocurrency is somehow going to be divorced from what’s happening elsewhere in the economy,” the Massachusetts Democrat, a frequent Wall Street and crypto critic, said on “Squawk Box.” “The idea that they’re somehow a protection or a hedge, I don’t think that’s going to be borne out over time,” she added. Warren called for cryptocurrencies to face tighter regulation, suggesting it will help root out “snake oil salesmen” and may shore up the confidence of investors in the nascent asset class.
Reference LinkSubmitted By: Anonymous