Elizabeth Warren Faces Backlash Over Criticism Of SEC’s Bitcoin ETF Approval

In a gust of developments revolving around the SEC’s recent approval of spot Bitcoin ETFs, U.S. Senator Elizabeth Warren’s comments seem to have fueled a sense of dissent among renowned individuals within the crypto industry. As revealed by a series of replies to Warren’s critic post on X, leading crypto market analysts globally cracked down on Warren’s blunt statement that disapproved the SEC’s call on the Bitcoin ETFs.

Meanwhile, with the recent approval and commencement of Bitcoin ETFs trading, the project appears to have gained significant traction across the trading landscape. However, Warren’s negative stand on the ETFs amid its rising popularity further contrasted with current market sentiments, setting off scrutiny globally.

Analysts Oppose Warren’s Narrative

As seen in a series of replies orbiting Warren’s social media post on X, numerous renowned crypto experts from across the globe took heat, criticizing the U.S. Senator’s statement.

Aligning with this, KALEO, a prominent crypto market expert, highlighted the challenges of expecting a new technology to conform to outdated and impractical regulations, such as anti-money laundering laws, which have remained unchanged since historic times. Furthermore, the analyst stressed the need for knowledgeable individuals within the industry, eyeing a more efficient framework that underlines the industry’s nuances.

Moreover, another renowned individual, going by the name Walker, on X, took a hard line to Warren’s post. As Walker stated, Bitcoin wasn’t used in many money laundering chronicles. However, he stressed Warren’s pal Jamie Damon’s JP Morgan money laundering saga for Jeffrey Epstein and cracked down on the Senator’s statement. Moreover, he further illuminated Bernie Madoff’s Ponzi scheme, sharing views in contrast to Warren’s narrative.

Intriguingly, these were not the only statements that backlashed Warren’s stand on SEC’s ETF approval. As per posts on the social media platform X, Pierre Rochard, Jameson Lopp, Mike Three, and many others showcased a sense of dissent orbiting the U.S. Senator’s statement.

Also Read: Terrible Day For Spot Bitcoin ETFs And Bitcoin Despite $4.6 Billion In Total Trade

Warren’s Post That Sparked The Sting

According to a recent report by CoinGape Media, Elizabeth Warren portrayed a negative stance on the SEC’s approval of the Bitcoin ETFs today. As per Warren’s post on X, the SEC stood in the wrong by approving the ETFs. She further cracked down on how the SEC is aiding crypto to dig even deeper into the U.S. financial roots without following the basic anti-money laundering rules.

This remark by the Senator caught flak among renowned crypto market enthusiasts globally, resulting in the backlash as mentioned above.

Also Read: Solana Ousts XRP from Hong Kong’s HKVAC Top 5 Crypto Index