Opinion: Elizabeth Warren is moving to make the financial system another tool that government can use to control and spy on its citizens.
In 2022, Massachusetts Senator Elizabeth Warren authored a bill that would requireproviders to comply with bank Anti-Money Laundering rules. No crypto exchanges, mind you, but the wallets themselves. Kansas Senator Roger Marshall joined her on the proposal as a co-sponsor.
. If they had their way, our personal bank account and credit card logins would rest on a central repository for the Department of Justice to access at will and without a warrant.The Warren bill would require that anyone who designs a crypto wallet register as a money services business and, essentially, be regulated like a financial institution.
This bill is a Trojan horse designed to destroy the crypto markets under the false guise of a pro-national security bill. It’s a smart strategy. Convince national security conservatives that this is an answer to a perceived problem, particularly members with little background knowledge as to how crypto works, and then let crypto development die off.The legislation also seeks to outright ban crypto privacy tools.
It’s ironic that even after Marshall gave trucker protest leaders a tour of the United States Capitol, he now supports a tool that has alreadyand those who tried to donate Bitcoin to support them. Ultimately, Marshall's decision to co-sponsor this bill betrays the populist and pro-Trump principles that he ran on as a candidate.
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