Senator Warren Opposes GENIUS Act Over Crypto Concerns

Senator Elizabeth Warren has launched a sharp critique against the GENIUS Act, warning it could empower tech giants to issue their own cryptocurrencies with minimal oversight. Her objections center on potential threats to consumer privacy, data exploitation, and market competition.

The legislation, currently under congressional review, WOULD streamline stablecoin issuance for corporate players. Warren argues this creates an uneven playing field while exposing users to invasive financial surveillance. "Cryptocurrencies could become trojan horses for data collection," she cautioned during recent hearings.

Technological advancement in finance requires guardrails, not corporate free passes. Warren''s opposition signals growing regulatory scrutiny as digital assets permeate mainstream banking systems. The debate highlights tensions between innovation and consumer protection in Washington''s crypto policy framework.