US Senator Elizabeth Warren: Approval of Bitcoin ETF by SEC is a Misguided Decision on Cryptocurrencies

The SEC’s decision to approve a Bitcoin ETF has brought joy to the cryptocurrency community, but not everyone is happy about it. US Senator Elizabeth Warren from Massachusetts expressed her dissatisfaction on Twitter today (1/12), stating, “The SEC’s decision to approve a Bitcoin ETF is wrong both legally and policy-wise. Allowing cryptocurrencies to infiltrate the financial system is more urgent than following anti-money laundering measures.”

Twitter users did not hold back in responding to Warren’s criticism. Many agreed with her and reminded those who saw her tweet that the SEC’s decision was based on the outcome of the SEC’s lawsuit with Grayscale (
Recognizing the approval of the ETF due to a loss in the Grayscale lawsuit, Gary Gensler: This is by no means an endorsement of Bitcoin
). They also pointed out that there are robust anti-money laundering regulations in place in various US agencies.

Cryptocurrency exchange Coinbase has been actively involved in cryptocurrency lobbying and advocacy efforts. The Stand With Crypto initiative, established by Coinbase, documents the attitudes and related policies of all US senators and representatives towards cryptocurrencies, with Elizabeth Warren being labeled as a “strong opponent.” Therefore, her strong opposition to the SEC’s decision does not come as a surprise.

Coinbase
Elizabeth Warren
ETF
SEC

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