“US Senator Criticizes SEC’s Approval of Bitcoin Spot ETF: Legal and Policy Perspectives Condemn the Decision!”

"US Senator Criticizes SEC's Approval of Bitcoin Spot ETF: Legal and Policy Perspectives Condemn the Decision!"

"US Senator Criticizes SEC's Approval of Bitcoin Spot ETF: Legal and Policy Perspectives Condemn the Decision!"

Democratic Senator Elizabeth Warren, who has long been known for her opposition to cryptocurrencies, publicly criticized the decision of the U.S. Securities and Exchange Commission (SEC) to approve a Bitcoin futures ETF, and called for the anti-money laundering rules to be applied to cryptocurrencies as soon as possible. Warren stated on the X platform:

According to a previous report by Zombit, Warren has been pushing for the Digital Asset Anti-Money Laundering Act, which aims to require cryptocurrency service providers (such as wallet providers, miners, and validators) to comply with the same regulations as banks. In addition to implementing KYC (Know Your Customer) for users, the act even requires miners or validation nodes to obtain a remittance license.

Although Warren is dissatisfied with the SEC’s decision to approve the Bitcoin ETF, other U.S. legislators who are relatively friendly towards cryptocurrencies expressed their support for the SEC’s decision. Republican Senator Cynthia Lummis from Wyoming stated on X:

Furthermore, Patrick McHenry, the Republican Chairman of the House Financial Services Committee in North Carolina, also applauded the SEC’s decision and called for continued legislative efforts in Congress.