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Elizabeth Warren lashes out against cryptocurrencies

Still friction between politics and digital assets

The atmosphere around the cryptocurrency risks becoming very heavy in the United States. Where, in particular, there is a real barrage by the policy towards digital assets. Testified above all by the words used by the senator Elizabeth Warren during a hearing in the Senate on 9 June. These have actually been very heavy for digital money, such as to cause fear in the companies concerned.

Warren democrats - Elizabeth Warren lashes out against cryptocurrencies

What did Elizabeth Warren say about cryptocurrencies?

The Massachusetts rep said cryptocurrencies turned out to be one low-level alternative to real money. In particular, their attempt to constitute an alternative to the failures that afflict the traditional banking system would have failed, which could also have been a shared objective in the light of its misdeeds.
In particular, Warren pointed the finger at Dogecoin, the famous meme coin pushed incessantly by Elon Musk and by the other VIPs who gave birth to the so-called Doge Train. Especially blaming its pronounced volatility, which is actually proving to be a significant danger to retail investors.
There was also the usual criticism of the use of virtual money in illegal activities. Witnessed in the last days by the story of US Colonial Pipeline, the infrastructure that was hacked by the group DarkSide, with the intent of asking for a ransom in Bitcoin.

Donald Trump's attack

Elizabeth Warren's words, however, come just a few hours away fromyet another tirade from Donald Trump against BTC and Altcoin. The former tenant of the White House, in fact, took advantage of the hospitality on the part of Fox Business, a television program hosted by Stuart Varney, to once again lash out strongly against the cryptographic icon. Enough to call it one fraudThis is not a new accusation from sectors of the economic and financial world that seem unable to understand the fact that the world looks to the future, rather than to the past.
As Trump seems to do, however, who has admitted that for his part the only currency to consider is the dollar. A statement that has however aroused irony on the part of some observers. The former president himself, in fact, still in 2016 boasted of being the king of debt, not worrying excessively, therefore, for the stability of the greenback.

Is the US policy towards cryptocurrencies preparing to change?

The words of Elizabeth Warren and Donald Trump have naturally flared concerns about the crypto space. Which now feels clearly under siege, at least in the United States. Where legal disputes against companies in the sector are intensifying, with some leading players, starting with Ripple, called to defend themselves against the Securities and Exchange Commission.
If the in turn, the city of Miami proposes itself as a possible hub for companies in the sector, it should be emphasized that many of them are looking abroad with increasing interest. And in this sense it should be remembered the declaration made in this regard by Justin Sun, the CEO of Tron. Who praised the moves of El Salvador, where the BTC has been equated to the dollar. Affirming its intention to open offices in the country in order to take advantage of the legislative opportunities opened up by the newly approved Bitcoin Law.

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Dario Marchetti

I have a degree in Literature and Philosophy from the Sapienza University of Rome, with a thesis on the eastern border of Italy at the end of the First World War. I have collaborated with several sites on many issues and led the work group that published the official CD-Rom of the SS Lazio "History of a love" and "Photographic History of Magical Rome".

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