The post Senator Warren Slams GOP’s Crypto Plan, Warns of ‘Presidential Corruption’ appeared first on Coinpedia Fintech News
Senator Elizabeth Warren (D-Mass.) is stepping into the spotlight with a new set of principles for regulating the crypto industry. As the top Democrat on the Senate Banking Committee and a well-known critic of digital assets, she’s pushing for stronger rules to protect the financial system from what she sees as growing risks in the crypto space.
Her announcement comes as a direct response to Republican lawmakers, setting the stage for a serious political showdown over crypto regulation in Washington.
Warren Pushes Back: No More Handouts for Crypto
Warren’s plan challenges the approach laid out by Senate Banking Chair Tim Scott (R-S.C.) and Senators Cynthia Lummis (R-Wyo.), Thom Tillis (R-N.C.), and Bill Hagerty (R-Tenn.). Their framework, introduced in late June, promotes innovation and lighter regulation.
Warren strongly disagrees.
“I’m concerned that what my Republican colleagues are aiming for is another industry handout that gives the crypto lobby everything on its wish list,” she is expected to say during a Senate hearing on Wednesday.
She warns that weakening financial regulations to favor crypto could undermine securities laws and create risks for the traditional financial system. According to Warren, crypto should not get special treatment, instead it should play by the same rules as the rest of the financial world.
Warren’s Key Priorities: Stability, Oversight, and Accountability
Warren’s framework centers on four key goals:
Protecting the financial system from instability
Enforcing anti-money laundering (AML) laws
Ensuring investor safety
Preventing public officials from using crypto for personal gain
She will also address concerns over “President’s crypto corruption“, highlighting President Donald Trump’s and his family’s ventures in stablecoins, meme coins, and bitcoin mining.
“If we’re going to provide rules of the road for crypto, we need to shut down this superhighway for presidential corruption at the same time,” Warren will argue.
Her approach is about tightening rules, not creating new ways for crypto insiders or politicians to benefit.
Republicans Say Innovation Must Come First
Meanwhile, Republican lawmakers are focused on encouraging innovation. Their framework calls for updated regulations that are “targeted” and “pro-innovation,” and suggests that financial agencies should be open to the growth of crypto.
Warren, however, believes this approach puts the industry ahead of investor protections and opens the door to future financial problems.
SEC Opens Talks with Ethereum Groups on Tokenized Securities Rules
,
September Is the New Deadline
The Senate is preparing to introduce a broader crypto market structure bill. This comes after passing the GENIUS Act, which focuses on stablecoin regulation. That bill now heads to the House for review.
The upcoming market structure bill will deal with how oversight of the crypto industry is divided between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
Senators Scott and Lummis say they now aim to pass the full bill by the end of September, slightly later than their original August timeline.
function subscribed_popupmodal(template_id) { var templateId = ‘6’; getAllSubscriberCategoryList([templateId]); var subcribemodal = window.parent.document.getElementById(‘subscribe-modal-design’); if (subcribemodal) { var modalContent = `
Never Miss a Beat in the Crypto World!
Stay informed and gain the edge you need to navigate the crypto world. Select your subscription now
if (storeCheckedId.length === 0) { var unsubcribedPopUpmodal =
`
You’ve Unsubscribed Successfully
We’re sorry to see you go! Your subscription has been canceled. If you change your mind, you can re-subscribe anytime. Thank you for being part of our community!
Thank you for subscribing to our crypto and blockchain newsletter! You’ll now receive the latest news, insights, and updates straight to your inbox. Welcome to our community!
`;
let selectedSubscriptionsArray = selectedSubscriptionsString.split(‘,’); let subscribedCategories = selectedSubscriptionsArray.map(subscription => subscription.split(‘_’)[0]); let subscribedCategoriesString = subscribedCategories.join(‘, ‘);
subscribedmodal.innerHTML = subscribedPopupModal; if (document.getElementById(‘selectidname’)) { document.getElementById(‘selectidname’).textContent = subscribedCategoriesString; }
function closeModal(template_id) { var modalId = template_id; var modal = document.querySelector(‘#’ + modalId); // Using querySelector to find the modal
// Function to get cookies function getCookie(name) { let value = “; ” + document.cookie; let parts = value.split(“; ” + name + “=”); if (parts.length == 2) return parts.pop().split(“;”).shift(); }
// Get user token from cookies const userToken = getCookie(‘user_token’);
if (subscribewithoutData === ‘true’ && userToken) { // Call the modal function with the category ID subscribed_popupmodal(subscribe_clicked_cat_id);
// Remove the flag and category ID from localStorage localStorage.removeItem(‘subscribe_without_Login’); localStorage.removeItem(‘subscribe_clicked_id’); } });
var listItems = document.querySelectorAll(‘.subscription-options li’); if (listItems.length === 0) return;
var anyActive = false; listItems.forEach(function(item) { var checkbox = item.querySelector(‘input[type=”checkbox”]’); if (checkbox) { if (checkbox.checked) { item.classList.add(‘active’); anyActive = true; // Set anyActive to true } else { item.classList.remove(‘active’); // Remove ‘active’ class if checkbox is unchecked } } });
}
function updateButtonText(anyActive) { var subscribeButtonSpan = document.querySelector(‘.subscribe-submit .changeBtnText’); if (subscribeButtonSpan) { if (anyActive) { subscribeButtonSpan.textContent=”Subscribe Now”; } else { subscribeButtonSpan.textContent=”Unsubscribe”; } } }
function updateSubscriptionButton() { var listItems = document.querySelectorAll(‘.subscription-options li’); if (listItems.length === 0) return;
var anyActive = false; listItems.forEach(function(item) { var checkbox = item.querySelector(‘input[type=”checkbox”]’); if (checkbox) { if (checkbox.checked) { item.classList.add(‘active’); anyActive = true; // Set anyActive to true } else { item.classList.remove(‘active’); // Remove ‘active’ class if checkbox is unchecked } } });
// Update the button text based on whether any list item has the ‘active’ class updateButtonText(anyActive); } document.addEventListener(‘click’, function(event) { var clickedItem = event.target.closest(‘.subscription-options li’); if (clickedItem) { var checkbox = clickedItem.querySelector(‘input[type=”checkbox”]’); if (checkbox) { checkbox.checked = !checkbox.checked; updateSubscriptionButton(); } } });
Warren’s proposed framework brings a tougher stance to the crypto conversation, standing in sharp contrast to the Republican vision. Let’s see how this plays out.
FAQs
How do Warren’s principles differ from Republican crypto proposals?
Warren’s plan opposes Republican frameworks that promote lighter regulation and innovation, fearing they are “industry handouts” that could weaken existing financial safeguards.
Why is Warren raising concerns about “President’s crypto corruption”?
Warren highlights President Trump’s ventures in stablecoins, meme coins, and Bitcoin mining, arguing that new crypto rules must “shut down this superhighway for presidential corruption.”