⚡ Elizabeth Warren's Crypto Bill Faces Steep Odds
posted 20 Dec 2023
Perianne Boring, the founder and CEO of the Chamber of Digital Commerce, declared that Senator Elizabeth Warren's crypto regulation bill is unlikely to pass. She asserts that, as it currently stands, the bill doesn't have a fighting chance at the federal level.
The bill proposes stringent regulation of crypto companies and projects, aligning them with traditional banking rules. Boring emphasizes that this approach is facing opposition not just from the crypto community but also from influential financial players, including members of the House Committee on Financial Services.
“It would never be brought up in Financial Services. Patrick McHenry’s already denounced the bill. He chairs that committee, he’s not bringing it forward,” Perianne added.
She admits, though, that political shifts could potentially change this situation, like if crypto supporters step down from government roles. However, an encouraging point to note is that out of the numerous bills Senator Warren has proposed during her Senate career, only one out of 331 has been fully enacted.
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