Gemini Founder: Elizabeth Warren's Crypto Crackdown Declared 'Illegal War'
CryptoNewsTerminal Staff11 Sep, 2024
Gemini Founder: Elizabeth Warren's Crypto Crackdown Declared 'Illegal War'
Gemini co-founder Tyler Winklevoss has accused Massachusetts Senator Elizabeth Warren of 'declaring illegal war on 50 million US crypto holders.' Winklevoss's comments came in response to Warren's recent proposal for sweeping new regulations on the cryptocurrency industry. Warren's plan would give the Securities and Exchange Commission (SEC) broad new powers to oversee crypto exchanges and other companies in the space. Winklevoss argues that Warren's proposal is an overreach of government authority and that it would stifle innovation in the crypto industry. He also claims that the plan would disproportionately harm small investors who have entered the crypto market in recent years. "This is nothing more than an attempt to crush an entire industry without any regard for the millions of Americans who have invested in crypto," Winklevoss said. "It's an illegal war on 50 million Americans." Warren has not yet responded to Winklevoss's accusations. However, she has previously said that she believes cryptocurrencies are a threat to the US financial system and that regulation is necessary to protect consumers.
