The bull market is about to end!
Elizabeth Warren is likely to become chair of the Senate Banking Committee. The crypto world should be on alert!
If Democrats take control of the Senate in the midterm elections, Elizabeth Warren will most likely become the next chair of the Banking Committee. She’s long been known as a “Wall Street nemesis” and is one of the crypto industry’s fiercest critics.
We all know what she’s been up to over the years: she spearheaded the creation of the CFPB after the financial crisis and has consistently called for breaking up big banks and tightening regulation; she’s publicly accused crypto of enabling money laundering, sanctions evasion, and fraud; she’s long opposed the CLARITY Act; and she’s repeatedly written letters demanding investigations into the Trump family’s World Liberty Financial and the sources of its stablecoin funding.
Her latest move came on November 3, when she publicly opposed the CFTC’s approval of perpetual contracts on U.S. stocks, saying it would turn the stock market into a high-risk, 24-hour casino and could amplify volatility and insider trading.
Personally, I think that if she becomes chair, crypto regulation will most likely tighten, especially around stablecoins, exchange compliance, and leveraged products. It won’t mean an immediate crackdown, but the policy climate will clearly turn harsher, and market sentiment will be affected too.
So I haven’t panic-sold because of this news, nor have I added to my position. I’m keeping my exposure under control and watching closely for her next concrete moves on stablecoins and perpetual contracts.
What do you think? If Warren takes the helm, will crypto really be suppressed, or is it all just talk?
Elizabeth Warren is likely to become chair of the Senate Banking Committee. The crypto world should be on alert!
If Democrats take control of the Senate in the midterm elections, Elizabeth Warren will most likely become the next chair of the Banking Committee. She’s long been known as a “Wall Street nemesis” and is one of the crypto industry’s fiercest critics.
We all know what she’s been up to over the years: she spearheaded the creation of the CFPB after the financial crisis and has consistently called for breaking up big banks and tightening regulation; she’s publicly accused crypto of enabling money laundering, sanctions evasion, and fraud; she’s long opposed the CLARITY Act; and she’s repeatedly written letters demanding investigations into the Trump family’s World Liberty Financial and the sources of its stablecoin funding.
Her latest move came on November 3, when she publicly opposed the CFTC’s approval of perpetual contracts on U.S. stocks, saying it would turn the stock market into a high-risk, 24-hour casino and could amplify volatility and insider trading.
Personally, I think that if she becomes chair, crypto regulation will most likely tighten, especially around stablecoins, exchange compliance, and leveraged products. It won’t mean an immediate crackdown, but the policy climate will clearly turn harsher, and market sentiment will be affected too.
So I haven’t panic-sold because of this news, nor have I added to my position. I’m keeping my exposure under control and watching closely for her next concrete moves on stablecoins and perpetual contracts.
What do you think? If Warren takes the helm, will crypto really be suppressed, or is it all just talk?
