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Senator Elizabeth Warren: Cryptocurrencies Need More Regulation

  • Senator Elizabeth Warren said that cryptocurrencies need more regulation.
  • She said it’s an environmental disaster

According to Elizabeth Warren, there was a hearing on digital currencies. She said it’s the first time that U.S. lawmakers put Bitcoin on trial in Senate CBDC Hearing.

Bloomberg TV said the hearing presented one of the sharpest criticisms of bitcoin from U.S. lawmakers to date. Warren then compared cryptos to wildcat notes issued in the past.

Bitcoin’s role in the ecosystem drew much of the attention. Not only in the community but also the Senate Banking Committee. During the hearing, Elizabeth Warren said that they had the chance to talk to some of the experts in the Banking industry.

Moreover, she pointed out about Bitcoin and Dogecoin trend around the world. She said that it doesn’t make a good way to buy and sell things. “Also, not a good investment, and it’s an environmental disaster,” she added. In addition, she said that the government needs some regulations about these issues.

During an interview with Bloomberg TV, Elizabeth Warren said,

“Do we need some more regulations around this? Yes, we bet we do.”

Recently, El Salvador moved to accept crypto as legal tender. But Warren’s views are likely to preview how the issue may be discussed in other upcoming hearings with the US lawmakers.

Also, after El Salvador, Paraguay hint at making Bitcoin a legal tender. These countries’ moves toward the adoption of BTC show that Bitcoin reached the legal tender stage.

Nathan Morgan

Nathan Morgan can be found writing, developing and designing all sorts of content. Aside from his fascination with content creation, he is also passionate about blockchain and cryptocurrency developments.

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