Sen. Elizabeth Warren of Massachusetts, a Democrat, has criticised the cryptocurrency sector once more, claiming that they are hesitant to abide by the laws.
“I wanna collaborate with the industry, what I don’t understand is why the industry seems to be saying that they only way that they can survive is if there’s plenty of space for the drug traffickers and the human traffickers, oh and the terrorist, and the ransomware scammer, and the consumer scammers..,” Warren stated in a Bloomberg Television interview.
According to Warren, there are standard operating procedures within the U.S. banking system, and cryptocurrency must adhere to these procedures.
The Democrat mentioned her “Digital Asset Anti-Money Laundering Act” bill, which would subject miners, validators, wallet providers, and other cryptocurrency participants to anti-money-laundering regulations.
The bill was submitted by the adamantly anti-crypto senator last year, and it originally received some support. Unfortunately, because the Senate Banking Committee has been preoccupied with other issues, the bill has encountered some obstacles.