Senator Warren Condemns Lack of Transparency in Crypto Legislation Drafting Process

Senator Elizabeth Warren has sharply criticized Republican lawmakers for their opaque approach to crafting cryptocurrency market structure legislation. The Massachusetts Democrat, a prominent crypto skeptic, alleges the Senate Banking Committee's GOP members developed their 182-page draft proposal using undisclosed industry feedback while excluding Democratic input.

The contentious draft marks the second partisan crypto bill introduced by Republicans this session. Warren contends such closed-door policymaking risks producing legislation unduly influenced by lobbyists rather than serving public interest. Her office provided these remarks exclusively to BeInCrypto following Friday's proposal release.

Meanwhile, a coalition of twelve Democratic senators has circulated a broader framework for crypto regulation. While less detailed than the Republican draft, their approach reflects bipartisan concerns about establishing clear digital asset rules without industry capture. The political divide highlights ongoing tensions in Congress over how to regulate the $2.2 trillion cryptocurrency market.