Crypto Rules Should Shield People, Not Amplify Corruption In Government: US Senator

Senator Elizabeth Warren is stepping up her call for strict cryptocurrency regulation, worried that industry-backed legislation can undermine consumer protections and weaken oversight. She is calling for measures that exclude corporate influence from policy-making and keep public servants from holding financial interests that could sway their decisions. Warren Rejects Industry-Written Rules In her recent remarks, Warren opposed pro-crypto legislation including the GENIUS Act and the CLARITY Act , referring to them as “gifts” for the big players in the digital asset space. Her reasoning is that these bills would create holes in accountability along with further empowering large corporations. Her stance is Congress—and not the crypto world—should be the one to create legislation governing the industry. In a speech to WNBC, Warren cautioned of “corruption” linked to elected representatives benefitting from crypto ventures. We need strong crypto regulation – not an industry giveaway that puts our economy at risk and supercharges President Trump’s corruption. pic.twitter.com/6sVbwMiSFf — Elizabeth Warren (@SenWarren) August 10, 2025 Warren pointed to connections to stablecoins and meme coins, stating that such associations could have an impact on national policy that serves private interests at the expense of the public. The anti-corruption framework subjects government officials with cryptocurrency investments or crypto business relationships to stringent disclosure and enforces compliance with more vigor. Stablecoins Under The Lens In July 2025, Warren presented her comprehensive framework to regulate crypto market activities. It outlines five core priorities, including applying existing securities protections to digital assets while keeping the regulatory structure of other markets unchanged. A central part of her plan targets stablecoins. Her proposal would block large technology companies, including Meta—the parent of Facebook—from issuing digital currencies. The senator argues that bringing in big tech companies to the stablecoin space would endanger privacy and financial stability, hence putting both consumers as well as the economy at risk. Her bill, according to reports, is aimed at keeping systemic risk in check while ensuring strict regulations and oversight for stablecoin issuers. US President Donald Trump is heading in the opposite direction. In July 2025, he signed the GENIUS Act , establishing a federal stablecoin regime with 100% reserve backing, monthly public reporting, and consumer protection provisions. The legislation divides power between state and federal regulators but still permits stablecoin holders to enjoy insolvency arrangements. Warren insists that the focus should be on safeguarding ordinary folks from financial threats and political manipulation. She demands that crypto regulations be for the public good, not to “power up corruption in government,” and cautions that allowing industry participants to dictate the laws will prioritize profits over accountability. Featured image from Unsplash, chart from TradingView