9 US SENATORS PUBLICLY BACK ELIZABETH WARRENS CRYPTO BILL

Senator Elizabeth Warren's persistent efforts to regulate the cryptocurrency industry are gaining traction, as evidenced by the recent announcement that nine US Senators have publicly backed her Digital Asset Anti-Money Laundering Act.This bipartisan support signals a potential shift in the landscape of crypto regulation, raising questions about the future of digital assets and their role in the financial system.Warren, known for her staunch anti-crypto stance, argues that cryptocurrencies are frequently used for illicit activities, including money laundering, drug trafficking, and sanctions evasion.Her proposed legislation aims to close loopholes in existing anti-money laundering (AML) laws and equip regulators with the necessary tools to combat these alleged abuses. 9 US Senators publicly back Elizabeth Warren s crypto bill PANews ｜ Senator Elizabeth Warren announces the expansion of her coalition to crack down on crypto s use in money laundering, drug trafficking, sanctions evasion.The growing coalition supporting her bill suggests that concerns about the misuse of crypto are resonating with lawmakers from both sides of the aisle.This development has sparked intense debate within the crypto community, with some fearing that the new regulations could stifle innovation and hinder the growth of the industry, while others acknowledge the need for greater oversight to protect consumers and prevent criminal activity.The AARP has also voiced their support for the bill. 9 US senators publicly back Elizabeth Warren s crypto bill Senator Elizabeth Warren announces the expansion of her coalition to crack down on crypto s use in money laundering, drugThe increased federal scrutiny of cryptocurrencies is something to keep an eye on as an investor in the space.

The Digital Asset Anti-Money Laundering Act: Key Provisions

Senator Warren's Digital Asset Anti-Money Laundering Act seeks to address perceived vulnerabilities in the existing regulatory framework surrounding cryptocurrencies. Senator Elizabeth Warren announces the expansion of her coalition to crack down on crypto s use in money laundering, drug trafficking, sanctions evasThe bill proposes several key provisions designed to enhance oversight and prevent illicit activities.Understanding these provisions is crucial for anyone involved in the crypto space, from individual investors to large institutions.

• Expanding the Definition of Money Service Business (MSB): The bill aims to broaden the definition of MSBs to include digital asset exchanges, payment processors, and other entities that facilitate crypto transactions. 9 US senators publicly back Elizabeth Warren s crypto bill . Senator Elizabeth Warren announces the expansion of her coalition to crack down on crypto s use in money laundering, drug trafficking, sanctions evasion. 344 Total views 18 Total shares Listen to articleThis would subject these entities to stricter AML and Know Your Customer (KYC) requirements.
• Requiring KYC for Unhosted Wallets: One of the most controversial aspects of the bill is its attempt to regulate unhosted wallets, also known as self-custodial wallets.The bill would require individuals using these wallets to verify their identity and the identity of their counterparties for transactions exceeding a certain threshold.
• Granting Authority to the Treasury Department: The bill would grant the Treasury Department greater authority to regulate crypto mixers and other technologies that obfuscate the origin or destination of funds. Senator Elizabeth Warren announces the expansion of her coalition to crack down on crypto s use in money laundering, drug trafficking, sanctions evasion. Nine US Senators have expressed their support for Senator Elizabeth Warren s Digital Asset Anti-Money Laundering Act, as stated in a press release from Warren s office.These technologies are often used by criminals to launder money and evade sanctions.
• Imposing Sanctions Compliance Obligations: The bill would require crypto businesses to implement robust sanctions compliance programs to prevent the use of digital assets to evade US sanctions.

The Senators Backing Warren's Crypto Bill

The bipartisan support for Senator Warren's bill is significant.The nine senators who have publicly endorsed the legislation represent a diverse range of political perspectives and backgrounds. 🚀 BREAKING: 9 US Senators Rally Behind Elizabeth Warren 39;s Game-Changing Crypto Bill! 💥📜 Want to dive deep into the epic showdown? Click the link NOW toTheir support underscores the growing consensus in Congress that greater regulation of the crypto industry is necessary.The senators who have joined Senator Warren's coalition are:

• Gary Peters (D-Mich.)
• Dick Durbin (D-Ill.)
• Tina Smith (D-Minn.)
• Jeanne Shaheen (D-N.H.)
• Bob Casey (D-Pa.)
• Richard Blumenthal (D-Conn.)
• Michael Bennet (D-Colo.)
• Catherine Cortez Masto (D-Nev.)
• Angus King (I-Maine)

The inclusion of independent Senator Angus King is particularly noteworthy, as it demonstrates that concerns about the potential misuse of crypto are not limited to one political party.The diversity of the coalition suggests that the bill has a reasonable chance of passing Congress, although it is likely to face significant opposition from some quarters.

Why Are Senators Supporting This Bill?

The senators backing Warren's bill cite a variety of reasons for their support, but a common thread is the concern about the potential for cryptocurrencies to be used for illicit activities. Top 3 Crypto News Today:-1. 9 US senators publicly back Elizabeth Warren s crypto bill .2. Scaramucci leads bidding for Silicon Valley Bank VC arm .3. KazakhThey argue that the lack of regulation in the crypto space makes it an attractive haven for criminals, terrorists, and rogue nations seeking to launder money, evade sanctions, and finance illegal activities.

For example, Senator Durbin has expressed concern about the role of crypto in facilitating the fentanyl crisis. In May 2025, a hearing of the Senate Banking, Housing, and Urban Affairs Committee, Senator Warren called out crypto s role in fueling the fentanyl crisis and announced she will reintroduce her bipartisan Digital Asset Anti-Money Laundering Act, a bill that would close loopholes in anti-money laundering rules, cutting off drug suppliers andHe argues that drug cartels are increasingly using cryptocurrencies to launder the proceeds from drug sales, making it more difficult for law enforcement to track and seize these funds. Business, Economics, and Finance. GameStop Moderna Pfizer Johnson Johnson AstraZeneca Walgreens Best Buy Novavax SpaceX Tesla. CryptoOther senators have highlighted the potential for crypto to be used to finance terrorism and evade sanctions against countries like Iran and North Korea.The AARP is also worried about older citizens being scammed with cryptocurrency.

Potential Impact on Bitcoin and the Crypto Market

The potential impact of Senator Warren's bill on Bitcoin and the broader crypto market is a subject of intense debate. Nine US Senators Publicly Back Elizabeth Warren s Crypto Bill By Lucy Adegbe. A bipartisan group of nine US senators have publicly backed Senator Elizabeth Warren s Digital Asset Anti-Money Laundering Act, according to a statement from Warren s office on Septem.Some argue that the bill would stifle innovation and drive legitimate crypto businesses overseas, while others believe that it would create a more stable and regulated environment that could attract institutional investors and foster wider adoption.

Negative Impacts

Critics of the bill argue that it could have several negative consequences for the crypto market:

• Reduced Privacy: The requirement to verify the identity of users of unhosted wallets could undermine the privacy features of cryptocurrencies, which are valued by many users.
• Increased Compliance Costs: The bill would impose significant compliance costs on crypto businesses, which could disproportionately affect smaller businesses and startups.
• Innovation Chill: Some fear that the bill could stifle innovation in the crypto space by creating a more restrictive regulatory environment.
• Capital Flight: Strict regulations could cause capital to flow out of the US crypto market and into more favorable jurisdictions.

Positive Impacts

Proponents of the bill argue that it could have several positive consequences for the crypto market:

• Increased Legitimacy: The bill could help to legitimize the crypto industry by creating a more regulated and transparent environment.
• Attracting Institutional Investment: A more regulated environment could attract institutional investors who have been hesitant to enter the crypto market due to regulatory uncertainty.
• Reduced Criminal Activity: The bill could help to reduce the use of crypto for illicit activities, making the crypto market safer and more trustworthy.
• Consumer Protection: Stricter regulations could protect consumers from fraud and scams in the crypto market.

Warren's Anti-Crypto History

Senator Elizabeth Warren's advocacy for stricter cryptocurrency regulation is no surprise, considering her long-standing skepticism towards digital assets.She has consistently voiced concerns about the potential for crypto to be used for illicit activities, as well as the risks it poses to consumers and the financial system.Her history of anti-crypto policies makes this bill a natural extension of her previous efforts to regulate the industry.

Warren has previously called on regulators to take a more aggressive approach to policing the crypto market, and she has criticized the industry for its lack of transparency and accountability. U.S. Sen. Elizabeth Warren (D-Mass.) has enlisted more support from key lawmakers in a growing coalition pushing for a law to crack down on money-laundering and sanctions abuses in crypto, withHer views on crypto have often been at odds with those of other lawmakers who see the potential for digital assets to drive innovation and economic growth.However, the growing support for her Digital Asset Anti-Money Laundering Act suggests that her concerns are gaining traction in Congress.

The Treasury Department's Stance

The Treasury Department has also expressed concerns about the potential for cryptocurrencies to be used for illicit activities.They have repeatedly called for new laws to crack down on the use of crypto by terrorist groups, rogue nations, drug lords, ransomware gangs, and fraudsters. The press release on Warren s official senate webpage names Democratic Party Senators Gary Peters, Dick Durbin, Tina Smith, Jeanne Shaheen, Bob Casey, Richard Blumenthal, Michael Bennet and Catherine Cortez Masto, along with independent Senator Angus King, as those who joined the bipartisan coalition supporting the bill. Peters is the chairThe Treasury Department believes that cryptocurrencies make it easier for criminals to launder money, evade sanctions, and finance illegal activities.

The Treasury Department's support for stricter crypto regulation has lent further weight to Senator Warren's efforts.The department's expertise and resources could be invaluable in helping to craft effective legislation to address the risks posed by cryptocurrencies.

What Does This Mean for Crypto Investors?

The increasing regulatory scrutiny of the crypto industry has significant implications for crypto investors. The cryptocurrency industry faces a growing need for regulations due to widespread illicit activities and money laundering concerns. Senator Elizabeth Warren s Digital Asset Anti-Money Laundering Act has gained support from nine senators, raising questions about potential impacts on Bitcoin and institutional involvement in the crypto market.The potential for new laws and regulations to impact the value and utility of digital assets is a growing concern for many investors.

Stay Informed

It is crucial for crypto investors to stay informed about the latest developments in crypto regulation.This includes following news reports, attending industry events, and consulting with legal and financial professionals.Understanding the potential impact of new regulations on your investments is essential for making informed decisions.

Diversify Your Portfolio

Diversification is always a good strategy for managing risk, but it is particularly important in the volatile crypto market. 15 votes, 30 comments. 2.3M subscribers in the ethtrader community. Welcome to /r/EthTrader, a 100% community driven sub. Here you can discussConsider diversifying your portfolio across different types of digital assets and traditional investments to reduce your exposure to regulatory risk.

Consider Self-Custody

The debate over unhosted wallets highlights the importance of self-custody.If you are concerned about the potential for government regulation to restrict your access to your crypto, you may want to consider storing your assets in a self-custodial wallet.However, it is important to understand the risks associated with self-custody, such as the potential for losing your private keys.

Support Responsible Regulation

Engage with policymakers and advocate for responsible regulation of the crypto industry. Furthermore, notable support for this bill has emerged, including an endorsement from the AARP, conveyed through a letter to the lawmakers in July. Warren s anti-crypto history. Meanwhile, Sen. Warren has an extensive history of anti-crypto policies.Support policies that protect consumers and prevent illicit activities, while also fostering innovation and economic growth.It is essential for the crypto community to have a voice in the regulatory process.

The Future of Crypto Regulation

The future of crypto regulation in the United States is uncertain, but the growing support for Senator Warren's bill suggests that stricter oversight is likely.Whether the bill passes in its current form or is modified to address some of the concerns raised by the crypto industry remains to be seen. 9 US senators publicly back Elizabeth Warren s crypto bill News crypto Bitcoin news Senate taxesHowever, it is clear that the days of unregulated crypto are coming to an end.

The outcome of the debate over crypto regulation will have a profound impact on the future of the industry.It could determine whether the US remains a leader in crypto innovation or falls behind other countries that have adopted a more welcoming regulatory approach. Nine United States Senators have added their support to Senator Elizabeth Warren s Digital Asset Anti-Money Laundering Act, according to a statement from Warren s office. The press release on Warren s official senate webpage names Democratic Party Senators Gary Peters, Dick Durbin, Tina Smith, Jeanne Shaheen, Bob Casey, Richard Blumenthal, Michael Bennet and Catherine Cortez Masto, alongIt is therefore crucial for all stakeholders to engage in a constructive dialogue to ensure that the rules governing the crypto market are fair, effective, and supportive of innovation.

Conclusion

The public backing of Senator Elizabeth Warren's Digital Asset Anti-Money Laundering Act by nine US Senators marks a significant turning point in the ongoing debate over crypto regulation.This bipartisan support underscores the growing concerns about the potential for cryptocurrencies to be used for illicit activities and the need for greater oversight of the industry. 9 US senators publicly back Elizabeth Warren s crypto billSenator Elizabeth Warren announces the expansion of her coalition to crack down on crypto s use inWhile the bill has the potential to address some of the risks associated with crypto, it also raises concerns about its potential impact on innovation, privacy, and capital flow.Crypto investors must remain vigilant and proactively take steps to mitigate the potential risks associated with stricter regulations. Senator Elizabeth Warren announces the expansion of her coalition to crack down on crypto s use in money laundering, drug trafficking, sanctions evasion.Ultimately, the future of crypto regulation will depend on the ability of lawmakers to strike a balance between protecting consumers and preventing illicit activities, while also fostering innovation and economic growth. Senator Elizabeth Warren has announced the expansion of her coalition to crack down on crypto s use in money laundering, drug trafficking, sanctions evasion. Nine other Senators have added their support to her Digital Asset Anti-Money Laundering Act, according to a statement. The press release on Warren s official webpage names Senators Gary Peters (D-Mich.), Dick Durbin (D-IllKey takeaways include:

• Senator Warren's bill has gained significant bipartisan support.
• The bill aims to combat money laundering and illicit activities in the crypto space.
• The crypto industry fears the potential negative impact on innovation and privacy.
• Investors need to stay informed and diversify their portfolios.

The actions of Senator Warren and her supporters will continue to shape the trajectory of the digital asset landscape for years to come.Staying informed and adapting to the evolving regulatory environment is crucial for anyone involved in the cryptocurrency world.