The crypto industry got some validation this morning as Sen. Elizabeth Warren (D-MA), who has been a staunch adversary, said during a Senate Banking Committee hearing that digital asset firms should not be debanked.
“Debanking is a real problem,” Warren, the top Democrat on the powerful Senate Banking Committee, said during the hearing. “This shouldn’t be happening, and we need to figure out why, and who is responsible.”
Perhaps less surprising was the fact she used the opportunity to advocate for the importance of the Consumer Financial Protection Bureau that President Donald Trump shut down earlier this week. Warren originally proposed the idea in 2007 and saw it come to fruition in 2011.
“If the president is serious about stopping debanking, then he needs a strong CFPB as his partner to get this done,” Warren added.
Elizabeth Warren Pledges to Work With Trump to End Debanking of Crypto Firms
Longtime crypto skeptic Elizabeth Warren has signaled she wants to work with President Donald Trump to stop crypto firms being debanked.
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A 790-page trove of documents released by the FDIC showed how banks were stifled from engaging with crypto companies in some instances.
Bitcoin Price Will Rise to $500,000 'Before Trump Leaves Office': Standard Chartered
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Ethereum to Bitcoin Ratio Hits 4-Year Low—Here’s Why
The ETH/BTC ratio has plunged to lows of 0.027, as institutional investors demonstrate a clear preference for Bitcoin ETFs.
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