Rich Dad Poor Dad author Robert Kiyosaki says most people should sell bitcoin now that the price of the cryptocurrency is “crashing.” However, he affirmed that he is waiting to buy more bitcoin, emphasizing that “all markets go up and down.” The famous author noted that his strategy is similar to Berkshire Hathaway CEO Warren […]
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Elizabeth Warren: Crypto Prominent in the Global Fentanyl Trade Over the Last Decade
Two U.S. Senators, Elizabeth Warren and Bill Cassidy, have asked the Biden adminstration to furnish them with updates on what the U.S. government is doing to curb the use of crypto in fentanyl trafficking. According to Warren and Cassidy, decentralized crypto exchange platforms are enabling the trafficking of Chinese-supplied fentanyl precursors. U.S. Senators Link Crypto […]
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Warren Buffett Sees No Alternative to US Dollar as Reserve Currency — Berkshire Holding $188 Billion in Cash
Warren Buffett, chairman and CEO of Berkshire Hathaway, asserts that there is currently no viable alternative to the U.S. dollar as the world’s reserve currency, suggesting that U.S. debt will remain acceptable “for a very long time.” Berkshire currently sits on a cash pile of 8 billion, which Buffett views as “quite attractive.” Insights From […]
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Dave Ramsey Sides With Warren Buffett on Bitcoin — Calls BTC Currency Based on Thin Air
Personal finance expert and best-selling author Dave Ramsey says he agrees with Berkshire Hathaway CEO Warren Buffett regarding bitcoin. Viewing the crypto as a currency whose value is based on “thin air,” Ramsey stressed: “I wouldn’t wish bitcoin investments on somebody I really dislike.” Dave Ramsey on Bitcoin: ‘It’s Still Thin Air’ Personal finance guru […]
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Skybridge Capital’s Anthony Scaramucci on Warren Buffett Buying Bitcoin: ‘Never Say Never’
Anthony Scaramucci, the founder and managing partner of Skybridge Capital, has commented on the potential for Berkshire Hathaway, the holding conglomerate founded by Warren Buffett, to buy bitcoin. While acknowledging Buffett’s negative stance on crypto, Scaramucci believes it’s still a possibility. ‘Never say never,’ stated Scaramucci. Skybridge Capital’s Anthony Scaramucci on Berkshire Hathaway Putting Money […]
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Pro-Crypto Lawyer John Deaton Enters Senate Race to Challenge Elizabeth Warren
Cryptocurrency advocate John Deaton has formally announced his candidacy for the Senate in Massachusetts, setting his sights on unseating the current Democratic Senator Elizabeth Warren from her position. “I’m excited for the opportunity to fight for change, and for the people of Massachusetts in the United States Senate,” Deaton wrote on Tuesday. Deaton vs. Warren: […]
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Pro-Crypto US Attorney Considers Challenging Elizabeth Warren in Massachusetts Senate Race
John Deaton, a U.S. lawyer known for his pro-crypto stance, is reportedly considering a run against Massachusetts Senator Elizabeth Warren. The Republicans are eager to nominate a formidable candidate against Warren. This strategy could compel her to concentrate on her political survival, potentially diverting her focus from supporting other Democrats. Pro-Crypto U.S. Lawyer to Decide […]
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US Senator Elizabeth Warren Comments Digital Assets Are Used to Evade Economic Sanctions
U.S. Senator Elizabeth Warren criticized the illegal use of cryptocurrency assets by bad actors. Commenting on a report issued by the U.S. Government Accountability Office (GAO), Warren declared that “rogue nations are using crypto to dodge sanctions and undermine our national security,” calling to establish increased money laundering rules on these assets.
U.S. Senator Elizabeth Warren: ‘Rogue Nations Are Using Crypto to Dodge Sanctions’
Elizabeth Warren, a U.S. senator, has commented on the role digital assets fulfill for bad actors, which use them to sidestep sanctions established by the U.S. government. In a post on X, Warren criticized the use of these tools for these purposes, calling for establishing controls that would contribute to diminishing this use.
Commenting on a U.S. Government Accountability Office (GAO) that examines the use of digital assets to evade sanctions, Warren stated:
A new U.S. GAO report confirms that rogue nations are using crypto to dodge sanctions and undermine our national security.
The report, issued in December, found that “digital assets like bitcoin and other virtual currencies pose risks to implementing and enforcing U.S. sanctions” but that the agency could mitigate some of these risks, given that “many digital assets are recorded on a public ledger, which may enable U.S. agencies and analytics firms to trace transactions and potentially identify illicit actors.”
Warren got hit by a community note on X, clarifying that the U.S. Treasury’s National Money Laundering Risk Assessment report confirmed that fiat was the preferred currency for financial crimes. Nonetheless, Warren called for “crypto to follow the same anti-money laundering rules as everyone else,” promoting her own Digital Asset Anti-Money Laundering Act, which would apply Bank Secrecy Act (BSA) rules to several elements of the crypto tech stack.
Warren also got criticized by several actors in the cryptocurrency industry. Coinbase CLO Paul Grewal blasted the referred report, stressing that it was made with “zero comparative analysis” just to “harangue an industry that spends millions and millions to follow the law.”
What do you think about Sen. Warren’s statements? Tell us in the comments section below.
Senator Elizabeth Warren Says SEC Is Wrong for Approving Spot Bitcoin ETFs
U.S. Senator Elizabeth Warren has slammed the U.S. Securities and Exchange Commission (SEC) for approving spot bitcoin exchange-traded funds (ETFs). She stressed that the securities regulator is “wrong on the law and wrong on the policy with respect to the bitcoin ETF decision.”
Senator Elizabeth Warren Unhappy With SEC’s Spot Bitcoin ETF Approvals
The U.S. Securities and Exchange Commission (SEC)’s recent approval of 11 spot bitcoin exchange-traded funds (ETFs) drew immediate criticism from U.S. Senator Elizabeth Warren (D-MA), who has long been a vocal skeptic of bitcoin and other cryptocurrencies. The senator wrote on social media platform X Thursday:
The SEC is wrong on the law and wrong on the policy with respect to the bitcoin ETF decision.
“If the SEC is going to let crypto burrow even deeper into our financial system, then it’s more urgent than ever that crypto follow basic anti-money laundering rules,” she stressed.
Several “community notes” were placed on Warren’s tweet. “There are already robust laws to prevent crypto money laundering. U.S. agencies, such as FinCEN, SEC, [and] CFTC, enforce anti-money laundering (AML) compliance, sanctions adherence, and the txn monitoring. States like New York (Bitlicense) also contribute to AML efforts.” Another community note states: “The SEC acted in accordance to new ‘circumstances’ brought up by the Judge in Grayscale Investments, LLC v. SEC. This is admitted by SEC Chair Gary Gensler.”
Warren is a vocal critic of cryptocurrency. In October last year, the senator and over 100 legislators penned a bipartisan note to Biden administration officials, raising concerns over Hamas evading U.S. sanctions and securing millions through crypto assets.
The Massachusetts senator has introduced the Digital Asset Anti-Money Laundering Act to “close loopholes in current law and bring cryptocurrency companies into greater compliance with the anti-money laundering and countering the financing of terrorism (AMF/CFT) frameworks that govern much of the financial system.” Noting that Warren’s bill is effectively “a crypto ban,” the Chamber of Digital Commerce has set up a petition to stop the proposal.
Moreover, despite their shared skepticism towards crypto, Senator Warren and JPMorgan CEO Jamie Dimon find themselves on opposite sides of the spot bitcoin ETF debate. While Dimon has insisted that bitcoin has no value and its primary use cases are illicit activities, JPMorgan is serving as a lead authorized participant for Blackrock’s spot bitcoin ETF.
What do you think about the statements by Senator Elizabeth Warren about spot bitcoin ETF approvals? Let us know in the comments section below.
Congressman Warren Davidson Rails Against Treasury’s ‘Red Herring Arguments’ On Crypto
Warren Davidson, Vice Chairman of the Subcommittee on Digital Assets, Financial Technology, and Inclusion of the House Financial Services Committee, has rejected the policy suggestions made by the U.S. Treasury on crypto assets, stating these seek to ban digital assets in the U.S. using unworkable compliance requirements as tools for this task.
Warren Davidson Qualifies U.S. Treasury’s Crypto Policy Proposals as ‘Dishonest’
Warren Davidson, Vice Chairman of the Subcommittee on Digital Assets, Financial Technology, and Inclusion of the House Financial Services Committee, rejected the policies presented by the U.S. Treasury to regulate crypto assets. In a recent opinion post titled “Setting the record straight and debunking unworkable illicit finance proposals,” Davidson explains that these suggestions, very similar to the proposals presented by Sen. Elizabeth Warren, seek to disarm the cryptocurrency industry in the U.S.
The suggested policies would classify wallet providers, miners, validators, and other network participants as a new group of crypto financial institutions, subject to the same reporting standards that traditional finance institutions do.
Davidson explains that Sen. Warren’s allegations indicating even validator node operators “pose national security concerns” show a degree of ignorance “unbecoming of any policymaker.”
On the objective of these measures, he stated:
It’s an attempt to capitalize on others’ ignorance by pursuing a backdoor pathway to effectively ban digital assets in the United States through a crushing and entirely unworkable compliance burden.
Furthermore, Davidson stresses that blockchain and cryptocurrency are not the preferred methods for terrorism financing, given that recent media reports incorrectly pointed out that the terrorist group Hamas had raised over million in digital assets. He claims this notion has been used to push this kind of policy that seeks to dismantle the future of the crypto industry in the U.S.
Davidson argued that the first measure to combat illicit movements in crypto should be to bring more crypto companies to the U.S., a goal that will be difficult to fulfill if these policies get approved. “Their purposefully unworkable framework will drive companies and capital offshore,” he concluded.
What do you think about Warren Davidson’s take on crypto policing? Tell us in the comments section below.