- Regardless of Biden’s assist, Warren maintains an anti-crypto stance.
- Crypto shapes political discourse and voter sentiment forward of upcoming U.S. elections.
Regardless of Biden’s current pro-crypto stance, Senator Elizabeth Warren stays staunchly anti-crypto. On the twenty ninth of Could, in a joint letter with Senator William Cassidy, Warren shared updates despatched in from drug companies on crypto’s function within the illicit fentanyl market.
The letter intimately
The letter written to Rahul Gupta, Director, Workplace of Nationwide Drug Management Coverage famous,
“We’re writing to specific our ongoing issues concerning the function of cryptocurrency within the worldwide fentanyl trafficking commerce and to hunt an replace on the Biden Administration’s actions to crack down on drug traffickers’ exploitation of crypto to develop their enterprise and launder their ill-gotten positive aspects.”
Warren’s letter underscores the numerous influence of illicitly produced fentanyl on rising overdose deaths in the US. It additionally highlighted the affect of cryptocurrency in enabling the fentanyl commerce and cash laundering.
Supporting their argument with a sequence of information, Warren and Cassidy concluded the letter by asking particular inquiries to the Biden administration, requesting responses by 14th June.
Supply: Warren.senate.gov
Not her first time!
This isn’t the primary time Warren highlighted her robust anti-crypto stance. On October 2023 she underlined how Hamas utilized cryptocurrency to finance its terrorist actions throughout the Israel-Palestine battle.
Supply: Elizabeth Warren/X
Moreover, whereas citing a current Authorities Accountability Workplace (GAO) report in January, she underscored how “rogue nations are utilizing crypto to dodge sanctions and undermine our nationwide safety”.
Supply: Elizabeth Warren/X
Crypto in politics or politics in crypto?
Apparently, portraying himself as a pro-crypto chief, former president Donald Trump in his current speech said,
“I’ll preserve Elizabeth Warren and her goons away out of your #Bitcoin”
This highlights how crypto has considerably impacted the 2024 presidential campaigns, main some to dub it the “Bitcoin election”.
This sentiment was strengthened by a current survey carried out by Harris Ballot on behalf of Grayscale, which emphasised,
“Practically a 3rd of voters (32%) say that they’re extra open to studying about crypto investing or truly investing in crypto for the reason that starting of the yr.”
Supply: Grayscale/Harris Ballot