Elizabeth Warren is unhinged in her anti-crypto agenda. Her new dangerous bill seeks to cut off regular Russians who have nothing to do with Putin's war from crypto, and also puts liability on developers. She is a threat to the whole space.

The latest bill Warren has proposed is a dangerous one that seeks to cut regular Russians from crypto. According to the bill, exchanges, intermediaries etc should stop dealing with addresses originating from Russians.She is seeking to cut off every Russian from crypto even though they have nothing to do with Putin's war. What is worse is that even decentralised protocol devs could be held liable if somehow a Russian ends up using their protocol or tool. How does this make any sense? Protocol developers have no way of limiting who uses their software.FBI, White House, Treasury department have all said that crypto is not being used to evade sanctions in any serious sums worth paying attention to.https://ift.tt/iB0OFEj would place sweeping restrictions on persons who build, operate, and use cryptocurrency networks even if they have no knowledge or intent to help evade sanctions though the Administration’s own experts have repeatedly said cryptocurrency evasion is not seriousSenator Warren and a raft of Democratic co-sponsors today introduced a bill titled the Digital Asset Sanctions Compliance Enhancement Act, which would place sweeping restrictions on the cryptocurrency ecosystem under the guise of bolstering sanctions against Russia for its unjustified invasion of Ukraine. She has done this despite the fact that there is no data suggesting that cryptocurrency has been used–or can meaningfully be used–by sanctioned parties to evade sanctions, and despite the fact that frontline officials from the White House, Treasury, and the Department of Justice have all stated that cryptocurrency is a poor tool for sanctions evasion and one that they have well under control.For example, FBI Director Christopher Wray said last Thursday at a Senate Intelligence Committee hearing:The Russians’ ability to circumvent the sanctions with cryptocurrency is probably highly overestimated on the part of maybe them and others. We are, as a community and with our partners overseas, far more effective on that than I think sometimes they appreciate.White House has also said "cryptocurrency is an ineffective primary tool for the state"It is well reported that the Russian state is planning or already using Chinese Yuan, Indian government's aide to evade sanctions, not crypto.Why is she so unhinged against crypto? Someone must be funding her so much that she spends her entire time talking shit about crypto and brining about senseless regulations.She does not even understand crypto, yet comes up with senseless regulations that cannot be complied in good faith.

Submitted March 18, 2022 at 02:53AM