News

Breaking: Elizabeth Warren Hints At New Crypto Bill To Close ‘Loopholes’

After recently claiming that crypto was involved in China fentanyl trade, Senator Elizabeth Warren hinted at crypto bill to tackle it.
Published by
Breaking: Elizabeth Warren Hints At New Crypto Bill To Close ‘Loopholes’

Crypto Market News: After recently claiming that crypto payments were involved in the Chinese fentanyl trade, US Senator Elizabeth Warren on Saturday hinted at the possibility of introducing a bill that prevents such loopholes in the crypto industry. Earlier, CoinGape reported that Warren shared research data that backs claims that Chinese businesses are fueling the Fentanyl epidemic and getting millions of money in cryptocurrencies. The senator had in recent times attracted the ire of the crypto market community for her attacks on the industry. These attacks are besides the ongoing regulatory scrutiny from the U.S. Securities and Exchange Commission (SEC) on crypto businesses.

Also Read: U.S. Advisory Warns Against Storing Funds On PayPal; Is Bitcoin The Safer Bet?

On the flip side, several United States politicians have in recent times voiced support for a fair and free crypto market ecosystem in the country. This is making it an increasingly divided political class of leaders opposing and supporting crypto in the lead up to the US presidential election 2024.

Advertisement

Elizabeth Warren Suggests Bill To Protect from Crypto Irregularities

Senator Warren had on Saturday hinted at having a bill that will close loopholes and apply rules to the crypto industry. She reiterated that crypto payments are involved in illicit activities like stealing funds, evading sanctions and financing terrorism. She added,

“It’s a big problem, but one we can fix. I have a bill that will close loopholes and apply common-sense rules to the industry.”

Recently, the Senator spoke about the concerns around the environmental impact and energy consumption of Bitcoin mining. She is often criticized in the crypto community for her close links with SEC Chair Gary Gensler, who is also a strong sceptic of crypto trade in the United States.

Also Read: Ethereum Advocate Predicts “Layer-2 Summer” Next Year; Which Tokens To Rally?

Advertisement

Share
Anvesh Reddy

Anvesh reports major crypto updates around U.S. regulation and market moving trends. Published over 1400 articles so far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at anvesh@coingape.com or x.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • News

James Wynn Takes XRP Long Bet After Ripple Prime Announcement

Ripple's native cryptocurrency XRP is currently defying the crypto market downturn, gaining 5% today, and…

October 25, 2025
  • News

Nasdaq-Listed Bonk Holdings Makes First Major Purchase of $32M, Nears 3% of Total Supply

Bonk Holdings Inc. (BNKK) has made its first significant acquisition of $32 million worth of…

October 25, 2025
  • News

Binance-based Meme Coin GIGGLE Fund Shoots 145% on Exchange Listing News

Giggle Fund, the charity-focused meme coin on Binance Smart Chain (BSC), has surged a massive…

October 25, 2025
  • News

ASTER Gets Major Boost as Project Launches Token Buyback Program, Expert Predicts $10 Spike

ASTER has announced a token buyback program in a bid to stabilize token prices and…

October 25, 2025
  • News

Trump Picks SEC Crypto Counsel Michael Selig to Lead CFTC Amid Crypto Oversight Push

Michael Selig is the latest candidate who has been chosen by President Donald Trump to…

October 25, 2025
  • News

First Spot XRP ETF Hits Milestone as CME Flags Institutional Interest

Institutional momentum in XRP is accelerating as the first U.S. spot XRP ETF ($XRPR) reached…

October 25, 2025