Senator Warren Hits Out at Crypto Again, Says Industry Needs to Follow the Same Rules as TradFi

Warren said that crypto would need to fall in line with the rest of the U.S. financial sector.

The senator’s anti-money-laundering bill, which would bring the Bank Secrecy Act to crypto, is awaiting approval.

U.S. Sen. Elizabeth Warren (D–Mass.) has called out the crypto industry yet again. Warren, in an interview with Bloomberg Television, said that she wants to work with sector leaders, but they are reluctant to follow the rules.

“I wanna collaborate with the industry, what I don’t understand is why the industry seems to be saying that they only way that they can survive is if there’s plenty of space for the drug traffickers and the human traffickers, oh and the terrorist, and the ransomware scammer, and the consumer scammers..,” said Warren.

Warren said that in the U.S. financial system, everybody follows the same rules and crypto needs to fall in line with those rules.

The Democrat was referring to her “Digital Asset Anti-Money Laundering Act” bill, which would bring anti-money-laundering requirements to various crypto players, including miners, validators, wallet providers and others.

The staunchly anti-crypto senator had introduced the bill last year, and garnered some support for the bill initially. However, the bill has hit a few roadblocks as the Senate Banking Committee has been busy with other matters.