The post Warren vs. crypto investors – Battle royale over anti-crime bill appeared on BitcoinEthereumNews.com.

The crypto industry is currently intensifying its opposition against Senator Elizabeth Warren’s proposed Anti-Crime Bill, which has sparked significant controversy and debate within the crypto community. This legislative proposal, known as the Digital Asset Anti-Money Laundering Act of 2023 (DAAMLA), has drawn widespread criticism from various stakeholders in the blockchain and cryptocurrency space. The industry’s concerns revolve around the bill’s potential ramifications, particularly regarding its implications for privacy, innovation, and regulatory overreach. As tensions escalate, key figures within the crypto sector, such as attorney John Deaton, are actively challenging Senator Warren’s stance by entering into political arenas, further emphasizing the significance of this contentious issue.  Warren faces a crypto blitz The Chamber of Digital Commerce (CDC), a crypto advocacy group based in the United States, has encouraged the chair of the Senate Banking Committee not to adopt an Anti-Money Laundering measure that industry leaders have widely criticized. In a Feb. 20 X post, the CDC claimed Senator Elizabeth Warren and Senate Banking Committee Chair Sherrod Brown were “trying to kill the entire [digital asset] industry” by proposing the Digital Asset Anti-Money Laundering Act (DAAMLA). The Senate Banking Committee will hold hearings on the bill, which CDC founder and CEO Perianne Boring described as a “clear and present danger to U.S. national security and the broader economy” in a letter to Brown. Digital assets have been under attack from politicians for years, but never like this. Senators @SenWarren and @SenSherrodBrown are trying to kill the entire industry, and their efforts are moving forward. pic.twitter.com/n7jJEAIjKI — Chamber of Digital Commerce (@DigitalChamber) February 20, 2024 “This bill, if passed, will erase hundreds of billions of dollars in value for U.S. start-ups and decimate the savings of countless Americans invested in this asset class legally,” Boring added. “[It] represents an effective prohibition on digital…

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Filed under: News - @ February 21, 2024 1:16 pm