• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Monday, May 12, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Crypto

U.S. Senator Warren shared her view of the benefits of cryptocurrency

by Shambhavi Soni
August 10, 2021 - Updated On September 4, 2021
in Crypto
Reading Time: 2 mins read
0
credits- CNBC
TwitterWhatsappLinkedin

Long Bitcoin skeptical US Senator Elizabeth Warren shared his views because of the benefits of cryptocurrency. “The greatest advantage of cryptocurrency can be increased or democratized access to the financial system,” she said, but in the event of problems like “execution of cryptocurrency,” the cryptocurrency industry might need federal relief.

You might also like

Best Crypto To Buy Now: Game On! AurealOne (DLUME) Is Set to Lead the Next Crypto Bull Run!!

US Government’s Crypto Holdings Surge to $21 Billion

Bybit Hack Funds Traced to eXch Platform, $38M Seized in Germany

 

credits- CNBC

Senator Elizabeth Warren discusses the biggest advantages and disadvantages of Cryptocurrencies.

In an interview with Bloomberg last week, Senator Elizabeth Warren asked what would happen to US cryptocurrency regulation. “If people go there to trade it, there must be a beat cop,” she started. “It’s the little traders who are fooled when there’s no police in any market because that’s always worrying me,” continues Massachusetts State Senator
. “The question of what she thinks are the biggest advantages and disadvantages of
cryptocurrencies were specifically answered by Warren, who answered:

“The biggest advantage of cryptocurrencies is that they can expand or democratize access to the financial system.”

“At present, in the United States, we have tens of millions of people without or without banking services, which means they have to go to the ATM to pay 3% of their wages. Just to get their cash,” he described. “They have to spend money to pay utility bills or pay rent, which cost these people a lot.” Senator elaborated: “The shift to the digital currency system, or should I say the expansion to the digital currency system, may attract more people. , And can be designed in many different ways.”
Regarding the shortcomings of cryptocurrency, Senator Warren said:

“The downside, of course, is that as long as it’s an unregulated system, it can involve more people and be scammed, which is not what we want.”

She warned that the larger the cryptocurrency market and the more it stays outside the financial system, the more it faces another financial crisis similar to 2008. She warned: When it comes to password money, there are problems in other parts of the economy. I don’t want the recipient of the request to support this for American taxpayers.
Many people visited Twitter to respond to Warren’s comments about the execution of crypto. Some explained that she still thinks like a bank and that cryptocurrency is different from the stock market going to the government for relief after the bank goes bankrupt. Edge CEO Paul Puey said:

“You can’t do that with a password. The password cannot be rescued. You don’t have to. This is the ‘why’ of encryption.”

Senator Warren has long been skeptical of Bitcoin. In May, she criticized cryptocurrencies for their environmental impact and investor protection. She also agreed with Treasury Secretary Janet Yellen if cryptocurrencies are primarily used for illegal financing.
Recently, Senator Warren has been calling for regulation in the field of cryptography. She urged Ren to quickly adopt a policy to reduce the risk of crypto. She also asked Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), to urgently devise crypto policies and require the SEC to use “full powers” to regulate cryptocurrency trading.

What do you think of Senator Elizabeth Warren’s opinion? Please let us know in the comments section below.

Tweet54SendShare15
Previous Post

Facebook expands its data portability options with Google Calendar and Photobucket

Next Post

Peter Schiff bashes Bitcoin even though Gold goes down

Shambhavi Soni

Recommended For You

Best Crypto To Buy Now: Game On! AurealOne (DLUME) Is Set to Lead the Next Crypto Bull Run!!

by Techstory
May 12, 2025
0
Best Crypto To Buy Now: Game On! AurealOne (DLUME) Is Set to Lead the Next Crypto Bull Run!!

The cryptocurrency world is quickly growing, and real value is on the rise from projects that solve real issues in the world using blockchain in gaming, DeFi, and...

Read more

US Government’s Crypto Holdings Surge to $21 Billion

by Sneha Singh
May 12, 2025
0
US Government's Crypto Holdings Surge to $21 Billion

Federal crypto reserves reached a record high of $21.156 billion, a dramatic change in how Washington treats digital currencies. The state holds 198,012 Bitcoin worth approximately $20.69 billion,...

Read more

Bybit Hack Funds Traced to eXch Platform, $38M Seized in Germany

by Thomas Babychan
May 11, 2025
0
Bybit Hack Funds Traced to eXch Platform, $38M Seized in Germany

German law enforcement authorities have confiscated cryptocurrency worth approximately $38 million (34 million euros) from a digital currency platform named eXch, which is reportedly linked to the laundering...

Read more
Next Post
Peter Schiff bashes Bitcoin even though Gold goes down

Peter Schiff bashes Bitcoin even though Gold goes down

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?