Senator Elizabeth Warren Says SEC Is Wrong for Approving Spot Bitcoin ETFs

U.S. Senator Elizabeth Warren has slammed the U.S. Securities and Exchange Commission (SEC) for approving spot bitcoin exchange-traded funds (ETFs). She stressed that the securities regulator is “wrong connected the instrumentality and incorrect connected the argumentation with respect to the bitcoin ETF decision.”

Senator Elizabeth Warren Unhappy With SEC’s Spot Bitcoin ETF Approvals

The U.S. Securities and Exchange Commission (SEC)’s caller support of 11 spot bitcoin exchange-traded funds (ETFs) drew contiguous disapproval from U.S. Senator Elizabeth Warren (D-MA), who has agelong been a vocal skeptic of bitcoin and different cryptocurrencies. The legislator wrote connected societal media level X Thursday:

The SEC is incorrect connected the instrumentality and incorrect connected the argumentation with respect to the bitcoin ETF decision.

“If the SEC is going to fto crypto burrow adjacent deeper into our fiscal system, past it’s much urgent than ever that crypto travel basal anti-money laundering rules,” she stressed.

Several “community notes” were placed connected Warren’s tweet. “There are already robust laws to forestall crypto wealth laundering. U.S. agencies, specified arsenic FinCEN, SEC, [and] CFTC, enforce anti-money laundering (AML) compliance, sanctions adherence, and the txn monitoring. States similar New York (Bitlicense) besides lend to AML efforts.” Another assemblage enactment states: “The SEC acted successful accordance to caller ‘circumstances’ brought up by the Judge successful Grayscale Investments, LLC v. SEC. This is admitted by SEC Chair Gary Gensler.”

Warren is simply a vocal professional of cryptocurrency. In October past year, the legislator and implicit 100 legislators penned a bipartisan enactment to Biden medication officials, raising concerns implicit Hamas evading U.S. sanctions and securing millions done crypto assets.

The Massachusetts legislator has introduced the Digital Asset Anti-Money Laundering Act to “close loopholes successful existent instrumentality and bring cryptocurrency companies into greater compliance with the anti-money laundering and countering the financing of coercion (AMF/CFT) frameworks that govern overmuch of the fiscal system.” Noting that Warren’s measure is efficaciously “a crypto ban,” the Chamber of Digital Commerce has acceptable up a petition to halt the proposal.

Moreover, contempt their shared skepticism towards crypto, Senator Warren and JPMorgan CEO Jamie Dimon find themselves connected other sides of the spot bitcoin ETF debate. While Dimon has insisted that bitcoin has nary value and its superior usage cases are illicit activities, JPMorgan is serving arsenic a pb authorized participant for Blackrock’s spot bitcoin ETF.

What bash you deliberation astir the statements by Senator Elizabeth Warren astir spot bitcoin ETF approvals? Let america cognize successful the comments conception below.