Letter to the editor: Warren’s anti-crypto bill misses mark

By: Dianna Graves
March 5, 2024

There Elizabeth Warren goes again, pursuing political opportunity at the expense of innovation. The latest is her Digital Asset Anti-Money Laundering Act, introduced by the progressive Democratic senator from Massachusetts and Sen. Roger Marshall, R-Kansas.

They tell us this bill is about preventing the use of digital currencies to launder dirty money. That is a dog that won’t hunt. Because the blockchain maintains a precise, accurate and unimpeachable account of every crypto transaction ever made, the system is itself a deterrent to use in money laundering. The last thing launderers want is an unimpeachable and immediately traceable account of their transactions. Blockchain provides just that.

Warren’s bill is about more government control. By forcing anyone who maintains blockchain infrastructure to register as a financial institution and banning them from using privacy software, the government would gain unrestricted access to view everyone’s online transactions using crypto, regardless of criminality real or alleged, due process be damned. This is another authoritarian chomp at the apple from progressives. Warren is anti-crypto, anti-growth and anti-business. Her record screams it, and this bill affirms it.

That’s the last thing West Virginia needs.

Our elected representatives in Washington need to just say no to this innovation-killing legislation. Crypto needs intelligent, well-crafted lawmaking to bring regulatory clarity and certainty. Tell your representatives to reject Warren’s power grab.


Dianna Graves


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