Senator Elizabeth Warren is under fire from the cryptocurrency community for her proposed amendments to the Digital Asset Market Clarity Act. Critics argue that Warren's 38 amendments would reinforce the dominance of traditional banks and impose stringent regulatory requirements on the crypto industry. Key amendments include removing developer protections and increasing compliance obligations.
The backlash highlights a broader concern within the digital asset community about the potential impact of the Clarity Act on innovation and self-custody rights. Many industry participants fear that the legislation, as shaped by Warren's amendments, could drive the industry offshore and stifle the growth of decentralized finance. The debate underscores ongoing tensions between regulatory efforts and the preservation of innovation in the U.S. crypto sector.
Elizabeth Warren Faces Backlash Over Crypto Bill Amendments
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