HomeBitcoinSenator Warren requires motion on Bitcoin's function in drug commerce

Senator Warren requires motion on Bitcoin’s function in drug commerce

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  • Regardless of Biden’s help, Warren maintains an anti-crypto stance.
  • Crypto shapes political discourse and voter sentiment forward of upcoming U.S. elections. 

Regardless of Biden’s latest pro-crypto stance, Senator Elizabeth Warren stays staunchly anti-crypto. On the twenty ninth of Might, in a joint letter with Senator William Cassidy, Warren shared updates despatched in from drug companies on crypto’s function within the illicit fentanyl market. 

The letter intimately

The letter written to Rahul Gupta, Director, Workplace of Nationwide Drug Management Coverage famous, 

“We are writing to express our ongoing concerns about the role of cryptocurrency in the international fentanyl trafficking trade and to seek an update on the Biden Administration’s actions to crack down on drug traffickers’ exploitation of crypto to grow their business and launder their ill-gotten gains.” 

Warren’s letter underscores the numerous influence of illicitly produced fentanyl on rising overdose deaths in the US. It additionally highlighted the affect of cryptocurrency in enabling the fentanyl commerce and cash laundering.

Supporting their argument with a sequence of knowledge, Warren and Cassidy concluded the letter by asking particular inquiries to the Biden administration, requesting responses by 14th June. 

Supply: Warren.senate.gov

Not her first time!

This isn’t the primary time Warren highlighted her sturdy anti-crypto stance. On October 2023 she underlined how Hamas utilized cryptocurrency to finance its terrorist actions throughout the Israel-Palestine battle. 

Warren's

Supply: Elizabeth Warren/X

Moreover, whereas citing a latest Authorities Accountability Workplace (GAO) report in January, she underscored how “rogue nations are using crypto to dodge sanctions and undermine our national security”.

Senator's tweet

Supply: Elizabeth Warren/X

Crypto in politics or politics in crypto?

Apparently, portraying himself as a pro-crypto chief, former president Donald Trump in his latest speech acknowledged, 

“I will keep Elizabeth Warren and her goons away from your #Bitcoin” 

This highlights how crypto has considerably impacted the 2024 presidential campaigns, main some to dub it the “Bitcoin election”.

This sentiment was bolstered by a latest survey performed by Harris Ballot on behalf of Grayscale, which emphasised, 

“Nearly a third of voters (32%) say that they are more open to learning about crypto investing or actually investing in crypto since the beginning of the year.” 

Grayscale/Harris Poll

Supply: Grayscale/Harris Ballot

 

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