Massachusetts Senator Elizabeth Warren has been vocal in her opposition to cryptocurrencies, despite polls showing that a majority of voters favor the adoption of crypto. In a recent tweet, she claimed to be fighting for the right to “put government on the side of working families.” The headline reads: “Elizabeth Warren is building an anti-crypto army”.
The strategy was met with criticism on Twitter, with Coin Bureau YouTuber claiming that “Imagine thinking that building an ‘anti-crypto army’ is going to win you votes?” Crypto advocate Lord TJ wrote that Warren’s stance would “push innovation offshore.”
Recent polls commissioned by the industry suggest that Warren’s anti-crypto position will not win support from the majority. In a March 30 survey conducted by crypto exchange Coinbase, 76% of respondents indicated that “cryptocurrency and blockchain are the future.” A November survey commissioned by digital asset manager Grayscale Investments found similar results, with 59% of Democrats and 51% of Republicans saying the same.
But according to a survey by Morning Consult, crypto trust had fallen over the course of the year, following the collapses of BlockFi, FTX, and Terra Luna. Warren first described her anti-crypto stance in a Feb. 14 Politico article, in which she claimed to be “starting to recruit conservative Senate Republicans to her anti-crypto cause and getting some early positive vibes from bank lobbyists.”
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The Senator has since prominently displayed her anti-crypto agenda in her campaign for re-election. Warren has long been a vocal critic of crypto, even arguing that it would ruin the economy in a Wall Street Journal op-ed by FTX, published shortly after its collapse. On Feb. 14, Warren’s group vowed to reintroduce an Anti-Money Laundering (AML) bill that would extend to decentralized finance and decentralized autonomous organizations, while also requiring unhosted wallets, miners, and validators to implement AML policies.
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