• Elizabeth Warren, the Massachusetts Senator, is seeking to create a new bipartisan committee devoted to looking into the problems surrounding digital currencies and investor protection.
• The committee will involve GOP lawmakers such as Roger Marshall and John Kennedy of Louisiana.
• Elizabeth Warren has been critical of Fidelity for offering its retired clients the opportunity to invest in crypto assets with their funds.
Elizabeth Warren Seeks to Establish New Congressional Crypto Committee
Elizabeth Warren – the Massachusetts Senator – is seeking to establish a new Congressional Crypto Committee in order to address the issues surrounding digital currencies and investor protection. This committee will involve both Republican and Democratic lawmakers, such as Roger Marshall from Kansas and John Kennedy from Louisiana.
Warren’s Concerns About Digital Currency Arena
Elizabeth Warren is allegedly concerned about the fall of FTX as well as other mishandling of funds by Sam Bankman-Fried. She believes that this space exhibits vulnerability like it never has before, making it even more necessary for her to address these issues through her new committee.
GOP Lawmakers Voice Support For Warren
GOP lawmakers have voiced their support for Warren’s efforts in creating this bipartisan committee. Roger Marshall stated in an interview that “her office has been good to work with” while John Kennedy commented on Bankman-Fried’s behaviour saying “he spread money around Capitol Hill like it was dishwater, and nobody stopped at the time to ask any relevant questions about this company”.
Warren Critical Of Fidelity
Warren has also been critical of Fidelity for offering its retired clients the opportunity to invest in crypto assets with their funds in a strongly worded letter she sent out recently. She claims that Bitcoin’s volatility is compounded by its susceptibility to the whims of just a handful of influencers such as Elon Musk who can cause value fluctuations up to eight percent with his tweets alone.
Critics Say It’s Time For Her To Back Off
Not everyone is enthused by Elizabeth Warren’s actions though, with many claiming that it is time for her big nose out of crypto politics given that she doesn’t seem understand how the space works fully yet. Alex Sarabia issued a statement saying „we should be wary when politicians try interfere in something they don’t understand“.