Senator Warren Criticizes ’Industry-Designed’ Crypto Legislation, Warns of Public Consequences

Senator Elizabeth Warren has sharply criticized the recently passed GENIUS Act, a stablecoin regulation bill signed into law by former President Donald Trump. The legislation, introduced by Republican Senator Bill Hagerty, establishes a Federal Reserve framework for stablecoins, aiming to create a "safe and pro-growth" environment for digital assets. Warren argues the bill prioritizes industry interests over public welfare, calling it a missed opportunity to address economic inequities.

The crypto-skeptic senator acknowledges the need for comprehensive digital asset regulation but insists Congress must avoid hastily crafted, industry-friendly solutions. "If we're going to ratify a sweeping crypto regulatory framework, we need to get it right," Warren emphasized during a Vanity Fair interview. Her comments highlight growing tensions between innovation-focused lawmakers and those advocating stricter consumer protections in the cryptocurrency space.