Senator Elizabeth Warren Calls for Crypto Industry to Follow US Financial Rules

According to CoinDesk, U.S. Senator Elizabeth Warren (D–Mass.) has criticized the crypto industry for its reluctance to follow the rules of the U.S. financial sector. In an interview with Bloomberg Television, Warren expressed her desire to collaborate with the industry but questioned why it seems to believe it can only survive if there is room for illegal activities such as drug trafficking, human trafficking, terrorism, ransomware scams, and consumer scams. Warren emphasized that in the U.S. financial system, everyone follows the same rules, and the crypto industry needs to align with those regulations. She referred to her 'Digital Asset Anti-Money Laundering Act' bill, which aims to apply anti-money laundering requirements to various crypto players, including miners, validators, wallet providers, and others. Introduced last year, the bill initially gained some support but has since faced obstacles as the Senate Banking Committee has been preoccupied with other matters.