Elizabeth Warren criticized the SEC for its decision to allow spot Bitcoin ETFs, saying cryptocurrencies should be subject to anti-money laundering rules.
Massachusetts Senator Elizabeth Warren criticized the Securities and Exchange Commission for approving a physical Bitcoin exchange-traded fund and called for urgent anti-money laundering regulations to be applied to cryptocurrencies.
A member of the Senate Banking Committee, who historically has not been a fan of cryptocurrencies, criticized the agency’s move to approve 11 spot Bitcoin ETFs on Thursday. post At X.
“that much @SECgov “The laws and policies surrounding the Bitcoin ETF decision are wrong,” Warren said. “If the SEC is going to allow cryptocurrencies to penetrate deeper into our financial system, it is more urgent than ever for cryptocurrencies to follow basic rules – money laundering rules.”
Warren has been pushing for digital asset anti-money laundering legislation for the past year and has received support from 19 other senators, including Sen. Lindsey Graham, R-S.C. Most of the co-sponsors are Democrats. bill It aims to extend Bank Secrecy Act requirements, including know-your-customer rules, to miners, validators, wallet providers, and more.
Lawmakers also call for legislation
Other cryptocurrency-friendly lawmakers said they supported the SEC’s move to authorize a spot Bitcoin ETF and emphasized the need for legislation.
“This will give millions of Americans easier access to cryptocurrency assets and allow them to benefit from professional custodians and more competitive fees,” Sen. Cynthia Loomis, R-Wyo., said Wednesday at X. . Kirsten Gillibrand, DN.Y., Cryptocurrency Control.
House Financial Services Committee Chairman Patrick McHenry, R-N.C., also called for legislation in an X Post on Wednesday.
“While we still need legislation that provides clarity and certainty for digital assets, the actions taken today are a significant improvement over the SEC’s enforcement regulatory record,” McHenry said.
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