The SEC’s decision to approve a Bitcoin spot ETF has brought joy to the cryptocurrency community, but not everyone is happy about it. US Senator Elizabeth Warren from Massachusetts tweeted on January 12th:
“The SEC’s decision to approve the Bitcoin ETF is wrong, both legally and policy-wise. If the SEC allows cryptocurrencies to penetrate the financial system, it will be more urgent than following anti-money laundering measures.”
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Twitter community notes come to the rescue
Elizabeth Warren has always been a strong opponent of cryptocurrencies.
Of course, the Twitter community did not let Elizabeth Warren off the hook.
Multiple Twitter notes received agreement and reminders to those who saw this criticism. The Twitter notes stated that the SEC’s approval decision was based on the outcome of the SEC’s lawsuit with Grayscale (acknowledging the approval of the ETF due to losing the Grayscale lawsuit, Gary Gensler: It is by no means an endorsement of Bitcoin). In addition, it reminded people that various US agencies already have robust anti-money laundering regulations.
The cryptocurrency exchange Coinbase has been very active in political lobbying and advocacy for cryptocurrencies.
The record Stand With Crypto, established by Coinbase, exposes the attitudes of all US senators and representatives towards cryptocurrencies and related policies, with Elizabeth Warren being marked as “strongly opposed”. Therefore, it is not surprising to see her strong opposition to the SEC’s decision.
Coinbase
Elizabeth Warren
ETF
SEC
Further reading
Ark Investment: Bitcoin spot ETF price to exceed $1.5 million by 2030
Bitcoin spot ETF sees $500 million trading volume in the first 20 minutes of trading.