Senator Elizabeth Warren has voiced concern that new crypto-related laws may give an unfair financial advantage to President Donald Trump.
She claimed the recent legislation could help Trump’s family business, which is active in the crypto industry and reportedly backed by large amounts of foreign funding.
In an appearance on MSNBC’s Morning Joe, Warren argued that the crypto industry has had too much influence in shaping its own rules.
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She stated:
We need regulation that limits the corruption and the ability of elected officials to trade in it, that also limits the ability to blow up the economy with crypto.
Warren pointed to the GENIUS Act, which has already passed, and the CLARITY Act, which is still under review. She said they reflect the growing pressure from crypto lobbyists and lack strong protections against misuse.
Her main concern centers on the Trump family’s financial involvement through World Liberty Financial. Warren noted that without stronger oversight, there is a risk that personal business interests could influence national policy.
She argued that the connection between public power and private gain must be addressed before it undermines public trust.
According to Warren, the current system of crypto oversight is not strong enough. She described the rules as “weak, weak restrictions” because they leave room for misuse by criminals, including those involved in terrorism or drug trafficking.
Recently, US senators, including Warren, called on the Office of the Comptroller of the Currency (OCC) to address potential conflicts of interest involving President Trump’s cryptocurrency activities. What did they say? Read the full story.
