SAB 121 House Joint Resolution
This bill is very pro-crypto.
voted against
Elizabeth Warren
Democratic Senator from Massachusetts
Notable statements
Digital Asset Anti-Money Laundering Act of 2023
This bill is very anti-crypto.
sponsored
Elizabeth Warren
@SenWarren
Howard Lutnick is in deep with crypto company Tether — aka “outlaws’ favorite currency.”
Tether financed North Korean nuclear weapons programs and Russian arms companies. Lutnick and his company made millions.
I have some questions for him. x.com/business/statu…
Very anti-crypto
Elizabeth Warren
@SenWarren
Cyber criminals are exploiting cryptocurrency to scam Americans out of billions every year.
In 2023, the FBI reported $12.5 billion in losses from online scams—fueled by phony crypto schemes.
We need more rules to protect consumers from crypto risks.
ca.news.yahoo.com/record-12-5-bi…
Very anti-crypto
Elizabeth Warren
@SenWarren
Sam Bankman-Fried stole customer money and threw it at lawmakers to try to advance his crimes.
It’s time white collar criminals are held to account, but lawmakers are still pushing his schemes.
We need tough rules to crack down on crypto crime.
Very anti-crypto
Elizabeth Warren
@SenWarren
For years, I’ve been ringing the alarm that cryptomining uses more energy than entire cities. @SecGranholm’s decision to track crypto emissions is powerfully important in our fight to rein in crypto’s carbon pollution.
reuters.com/technology/us-…
Very anti-crypto
Elizabeth Warren
@SenWarren
A new @USGAO report confirms that rogue nations are using crypto to dodge sanctions and undermine our national security.
It’s time for crypto to follow the same anti-money laundering rules as everyone else. I’ve got a bill to make it happen. x.com/USGAO/status/1…
Very anti-crypto
Elizabeth Warren
@SenWarren
The @SECgov is wrong on the law and wrong on the policy with respect to the Bitcoin ETF decision.
If the SEC is going to let crypto burrow even deeper into our financial system, then it's more urgent than ever that crypto follow basic anti-money laundering rules.
Very anti-crypto
Elizabeth Warren
@SenWarren
Crypto companies are spending millions building an army of former defense and law enforcement officials to lobby against new rules shutting down crypto-financed terrorism. This revolving door boosts the crypto industry, but endangers our national security. x.com/politico/statu…
Very anti-crypto
Elizabeth Warren
@SenWarren
When it comes to banking policy, I don’t usually agree with the CEOs of multi-billion dollar banks. But enforcing anti-money laundering rules against crypto to protect national security is common sense & critical. It's time for Congress to act. pic.x.com/zZAegAjeb4
Very anti-crypto
Elizabeth Warren
@SenWarren
Law enforcement and national security officials need additional authorities and resources to pursue money laundering, sanctions evasion, & criminal activity facilitated through crypto. I’ll keep working to pass bipartisan legislation to address this serious and dangerous problem.
Very anti-crypto
Elizabeth Warren
@SenWarren
The CEO of the world’s largest crypto exchange pleaded guilty to breaking anti-money laundering laws. This is part of a larger trend of criminal activity in the crypto industry and sadly predictable. I urged @TheJusticeDept to investigate Binance for lying to Congress.
Very anti-crypto
Elizabeth Warren
@SenWarren
Wall Street Journal: "Hamas Needed a New Way to Get Money From Iran. It Turned to Crypto."
I've been ringing the alarm bell that crypto-financed terrorism is a national security threat. @USTreasury needs better tools and more resources. Congress must act. wsj.com/world/middle-e…
Very anti-crypto
Elizabeth Warren
@SenWarren
.@USTreasury & the IRS proposed a new crypto broker reporting rule to close the $50 billion crypto tax gap. But the rule is facing a two-year delay. @SenAngusKing & I are leading the call to swiftly implement this rule & crack down on wealthy tax cheats. bloomberg.com/news/articles/…
Very anti-crypto
Elizabeth Warren
@SenWarren
No one is above the law, including crypto executives. Sam Bankman-Fried stole billions from everyday Americans and will be held accountable. x.com/WSJ/status/172…
Very anti-crypto
Elizabeth Warren
@SenWarren
RT @WSJopinion: Terrorists, rogue nations, drug traffickers and other criminals are enlisting cryptocurrency to endanger our allies and U.S…
Very anti-crypto
Elizabeth Warren
@SenWarren
Major announcement by @TreasuryDepSec Wally Adeyemo to crack down on crypto financed-terrorism.
I led 100+ lawmakers raising concerns, and the Biden administration is taking swift and significant action. Congress must also step up and close crypto money laundering loopholes. x.com/WSJecon/status…
Very anti-crypto
Elizabeth Warren
@SenWarren
Hamas raised millions via crypto in the months leading up to their attack on Israel. @RogerMarshallMD, @RepCasten and I are leading 100+ lawmakers urging the Biden admin to address crypto-financed terrorism.
reuters.com/world/us/lawma…
Very anti-crypto
Elizabeth Warren
@SenWarren
RT @politico: Hamas uses crypto to raise money. Elizabeth Warren has a plan for that. ow.ly/kslv104XHqH
Very anti-crypto
Elizabeth Warren
@SenWarren
Crypto is the not-so-secret financial weapon funding terrorist organizations like Hamas, Chinese fentanyl networks and North Korea’s missile program. justice.gov/opa/pr/justice…
Very anti-crypto
Elizabeth Warren
@SenWarren
There is a growing bipartisan coalition of senators pushing to crack down on crypto-financed crimes, and it’s time to act with urgency to ensure law enforcement has the resources and authority to protect innocent people.
warren.senate.gov/newsroom/press…
Very anti-crypto
Elizabeth Warren
@SenWarren
It’s alarming and should be a wakeup call for lawmakers and regulators that digital wallets connected to Hamas received millions of dollars in cryptocurrencies. x.com/WSJ/status/171…
Very anti-crypto
Elizabeth Warren
@SenWarren
How do Chinese companies sell fentanyl ingredients?
By using "cryptocurrency transactions to conceal their identities & the location & movement of their funds", per @TheJusticeDept.
I have a bipartisan bill to crack down on crypto funding crimes.
washingtonpost.com/national-secur…
Very anti-crypto
Elizabeth Warren
@SenWarren
I rang the alarm about sanctions evasion by Russia using the crypto platform Binance—and urged @TheJusticeDept to investigate potentially false statements it made to Congress. We need stronger crypto regulations to rein in illicit finance. wsj.com/finance/binanc…
Very anti-crypto
Elizabeth Warren
@SenWarren
North Korea has stolen over $3 billion in crypto since 2018 to help fund its nuclear weapons program.
@SenTimKaine, @ChrisVanHollen & I are calling on @USTreasury & WH National Security Council to crack down on North Korea’s crypto use to evade sanctions.wsj.com/articles/crypt…
Very anti-crypto
Elizabeth Warren
@SenWarren
Two years ago, Congress directed @USTreasury and @IRSnews to write new tax rules for crypto. We're still waiting. Wealthy tax cheats and crypto brokers continue to game the system due to loopholes, and it should be easier for investors to file their taxes. wsj.com/articles/crypt…
Very anti-crypto
Elizabeth Warren
@SenWarren
I’ve been ringing the alarm about the risks that Bitcoin poses to our power grids and climate. @EPA and @ENERGY should use their authority to require cryptominers to disclose their energy use and emissions.
Very anti-crypto
Elizabeth Warren
@SenWarren
Bitcoin mines are increasing energy bills for millions of American families while enriching crypto executives — and causing as much pollution as an additional 3.5 million gas-powered cars. An alarming @nytimes report.
nytimes.com/2023/04/09/bus…
Very anti-crypto
Elizabeth Warren
@SenWarren
In 2018, Signature Bank lobbied for looser bank regulations and celebrated when they got them. Weak rules and overreliance on crypto led to the bank's collapse. They owe the public an explanation for the economically disastrous outcomes they've caused.
finance.yahoo.com/news/elizabeth…
Very anti-crypto
Elizabeth Warren
@SenWarren
.@RonWyden and I called on @PCAOB_News to hold auditors accountable for sham crypto audits and I'm glad they're taking this step to protect investors.
But let's be clear: there's more PCAOB needs to do so consumers aren't left holding the bag when shady crypto firms collapse. x.com/PCAOB_News/sta…
Very anti-crypto
Elizabeth Warren
@SenWarren
As the bank of choice for crypto, Silvergate Bank's failure is disappointing, but predictable. I warned of Silvergate's risky, if not illegal, activity—and identified severe due diligence failures. Now, customers must be made whole & regulators should step up against crypto risk.
Very anti-crypto
Elizabeth Warren
@SenWarren
More evidence that crypto is the currency of choice for illicit finance—including by Russians looking to evade sanctions. My bipartisan bill would crack down on rogue states and criminals using crypto to move dirty money. Congress needs to pass it.
politico.com/news/2023/02/2…
Very anti-crypto
Elizabeth Warren
@SenWarren
.@EPA and @ENERGY have the authority to require that cryptominers disclose their energy use and emissions. It's now time for them to use it. We need full transparency about how cryptomining is impacting our climate and electrical grid.
theverge.com/2023/2/7/23588…
Very anti-crypto
Elizabeth Warren
@SenWarren
RT @CNN: Senator Elizabeth Warren, a longtime crypto critic, warned recent turbulence in the digital asset space will only continue unless…
Very anti-crypto
Elizabeth Warren
@SenWarren
RT @econliberties: 1:30PM: We'll kick off an event with @RealBankReform and @SenWarren to examine the rise and fall of the crypto industry…
Very anti-crypto
Elizabeth Warren
@SenWarren
This action by @USTreasury and @TheJusticeDept is an important step in the fight against crypto money laundering. I have a bipartisan bill to give regulators the resources they need to continue going after criminal crypto operations—wherever they are. reuters.com/business/finan…
Very anti-crypto
Elizabeth Warren
@SenWarren
I’ve warned about connections between the banking industry and cryptocurrency firms risking the safety and soundness of the financial system. I’m glad regulators agree. They must use every tool available to protect our economy from crypto risks. reuters.com/business/finan…
Very anti-crypto
Elizabeth Warren
@SenWarren
Rogue nations, oligarchs and drug lords are using crypto to launder billions, evade sanctions and finance terrorism. My bipartisan bill puts common-sense rules in place to help close crypto money laundering loopholes and protect our national security.
cnn.com/2022/12/14/bus…
Very anti-crypto
Elizabeth Warren
@SenWarren
I've long urged @TheJusticeDept to hold corporate executives personally accountable when their companies break the law.
Crypto executives who break the law are just like any other crooks. If Sam Bankman-Fried committed fraud, then federal prosecutors should send him to prison.
Very anti-crypto
Elizabeth Warren
@SenWarren
FTX's collapse revealed that shady crypto firms and banks have close ties. We must make sure crypto doesn't jeopardize our banking system and potentially harm millions of Americans. @SenTinaSmith and I are seeking answers from regulators.
politico.com/news/2022/12/0…
Very anti-crypto
Elizabeth Warren
@SenWarren
If the crypto industry can succeed without stealing from investors or laundering money, that’s great—but we won’t know that until the loopholes are closed and the laws are rigorously enforced. wsj.com/articles/regul…
Very anti-crypto
Elizabeth Warren
@SenWarren
FTX’s collapse should be a wake-up call. @SECGov,
@TheJusticeDept & @USTreasury should use their expansive authority to crack down hard on crypto fraud. Congress must close loopholes & back up these financial cops on the beat with more resources.
My oped: wsj.com/articles/regul…
Very anti-crypto
Elizabeth Warren
@SenWarren
I've been ringing the alarm that the crypto industry is rife with fraud—this @CFPB report confirms it. Crypto platforms are failing to help consumers even when they lose their life savings. We need stronger rules to ensure consumers are protected.
news.bloomberglaw.com/banking-law/pi…
Very anti-crypto
Elizabeth Warren
@SenWarren
The implosion of FTX must be a wake up call for Congress and financial regulators to hold this industry and its executives accountable.
Too much of the crypto industry is smoke and mirrors. It's time for stronger rules and stronger enforcement to protect ordinary people.
Very anti-crypto
Elizabeth Warren
@SenWarren
The collapse of one of the largest crypto platforms shows how much of the industry appears to be smoke and mirrors. We need more aggressive enforcement and I'm going to keep pushing @SECGov to enforce the law to protect consumers and financial stability.
wsj.com/articles/sec-i…
Very anti-crypto
Elizabeth Warren
@SenWarren
200+ government officials have spun through the revolving door to land lucrative lobbying jobs in the crypto industry.
This risks corrupting the policymaking process and undermining the public’s trust in financial regulators.
@RepAOC and I want answers.
barrons.com/advisor/articl…
Very anti-crypto
Elizabeth Warren
@SenWarren
Consumers shouldn't have to subsidize cryptomining's profits and exorbitant energy use, which rivals that of entire nations.
I'm working with @RepAlGreen to get answers about the risks cryptomining poses to the climate, grid, and energy bills.
theverge.com/2022/10/12/234…
Very anti-crypto
Quoted from www.warren.senate.gov on Oct 12th, 2022
"Cryptomining is adding significant demand to an already unreliable grid, “pos[ing] enormous challenges to the transmission and distribution system and to prices” and contributing to the global climate crisis."
Very anti-crypto
Elizabeth Warren
@SenWarren
This fine is further proof that the crypto industry allows countries like Iran to evade economic sanctions and emphasizes the need for congressional action. I've proposed a bill to bolster @USTreasury tools so crypto doesn’t undermine US national security. nytimes.com/2022/10/11/bus…
Very anti-crypto
Elizabeth Warren
@SenWarren
More than $2 TRILLION in value has been wiped out in the highly speculative crypto market—that means losses for ordinary Americans, and potential risk for the entire financial system. I’ve urged @SecYellen to strengthen oversight to protect the economy.
nytimes.com/2022/10/03/bus…
Very anti-crypto
Elizabeth Warren
@SenWarren
The Biden administration is right: cryptomining undermines our efforts to combat the climate crisis.
I've been ringing the alarm on this, and will continue pushing regulators to hold cryptominers accountable for their environmental impacts on our planet.
bloomberg.com/news/articles/…
Very anti-crypto
Elizabeth Warren
@SenWarren
Important work by @USTreasury to blacklist this crypto mixer for helping North Korean hackers and other cybercriminals launder virtual currencies.
A bold move to protect U.S. national security and ensure criminals cannot evade law enforcement. theverge.com/2022/8/8/23296…
Very anti-crypto
Elizabeth Warren
@SenWarren
My investigation shows that cryptominers use an exorbitant amount of energy with little to no public disclosure.
Regulators should require more transparency so all Americans can understand crypto's impact on our local communities and planet.
nytimes.com/2022/07/15/cli…
Very anti-crypto
Elizabeth Warren
@SenWarren
Ordinary investors thought stablecoins were safe, but it turns out they aren’t so stable after all. The TerraUSD crash is a stark reminder that we need rules of the road to protect Americans from losing their life savings in volatile and risky crypto.
wsj.com/articles/terra…
Very anti-crypto
Elizabeth Warren
@SenWarren
Investing in cryptocurrencies is a risky and highly speculative gamble, and @Fidelity's plans to allow Bitcoin investments in Americans' retirement savings plans are a big mistake.
@SenTinaSmith and I want answers.
wsj.com/articles/sen-e…
Very anti-crypto
Elizabeth Warren
@SenWarren
Cryptocurrency scams are on the rise, leaving consumers with their money gone and no way to get it back.
Regulators and Congress need to step up to put guardrails around the crypto market and protect consumers before it's too late.
washingtonpost.com/technology/202…
Very anti-crypto
Elizabeth Warren
@SenWarren
Smart move by @USTreasury to sanction this major Russian crypto exchange and go after criminals trying to evade sanctions.
I've been ringing the alarm on this, and Congress needs to pass my bill so Treasury has more tools to get the job done.
reuters.com/world/europe/u…
Very anti-crypto
Elizabeth Warren
@SenWarren
I have a plan (and a bill!) to strengthen our sanctions.
We cannot allow the use of crypto to undermine sanctions against Putin's war in Ukraine.
markets.businessinsider.com/news/currencie…
Very anti-crypto
Elizabeth Warren
@SenWarren
We can't allow Putin & his cronies to hide their wealth & evade economic sanctions using cryptocurrency. My new bill w/@SenJackReed, @MarkWarner, @SenatorTester & colleagues would close this potential avenue for evasion & ensure Russia is held accountable.
bostonglobe.com/2022/03/17/nat…
Very anti-crypto
Elizabeth Warren
@SenWarren
Check out my conversation with @danpfeiffer on @PodSaveAmerica.
We spoke about Putin's war in Ukraine, sanctions and crypto, lowering costs for Americans, and why @POTUS should #CancelStudentDebt.
crooked.com/podcast/putins…
Very anti-crypto
Elizabeth Warren
@SenWarren
RT @danpfeiffer: New @PodSaveAmerica with @SenWarren talking about Ukraine, student debt relief, crypto, and how to crack down on Russian O…
Very anti-crypto
Elizabeth Warren
@SenWarren
I've been ringing the alarm bell on crypto, from consumer protection to the environment to national security—especially since Russian elites can use digital assets to undermine sanctions.
@POTUS is right to spotlight crypto’s risks and we need strong rules before it’s too late.
Very anti-crypto
Elizabeth Warren
@SenWarren
I'll be speaking soon with @Mitchellreports on @MSNBC about my new bill to ensure crypto isn't used by Putin and his cronies to undermine our economic sanctions. Hope you'll tune in!
nbcnews.com/politics/congr…
Very anti-crypto
Elizabeth Warren
@SenWarren
RT @NBCNews: Sen. Warren is crafting legislation she hopes will make it harder for Russia to use cryptocurrency to evade sanctions. https:/…
Very anti-crypto
Elizabeth Warren
@SenWarren
Criminals can use cryptocurrency to move money in the shadows, opening a door for Putin & his cronies to evade economic sanctions. I want answers from @USTreasury on how they'll ensure crypto doesn’t undermine our response to Russia's invasion of Ukraine.
nytimes.com/2022/03/02/bus…
Very anti-crypto
Elizabeth Warren
@SenWarren
RT @SenJackReed: We can’t let Putin & his cronies use crypto to evade sanctions. Joined @SenWarren @MarkWarner @SenSherrodBrown in urging U…
Very anti-crypto
Elizabeth Warren
@SenWarren
Cryptocurrencies risk undermining sanctions against Russia, allowing Putin and his cronies to evade economic pain.
U.S. financial regulators need to take this threat seriously and increase their scrutiny of digital assets. nytimes.com/2022/02/23/bus…
Very anti-crypto
Elizabeth Warren
@SenWarren
RT @SenWhitehouse: We have to think hard about how new technology affects our climate. Cryptocurrency mining demands a huge amount of energ…
Very anti-crypto
Elizabeth Warren
@SenWarren
Bitcoin mining's energy use has more than tripled since 2019, consuming as much energy as entire countries. It's even driving up electricity costs and harming local environments.
I want six cryptomining companies to provide answers on their impact.
bloomberg.com/news/articles/…
Very anti-crypto
Elizabeth Warren
@SenWarren
The crypto industry claims that crypto is the path to financial inclusion, but bitcoin ownership is even more concentrated within the top 1% than dollars. We need real solutions to make the financial system work for everyone, not just the wealthy.
wsj.com/articles/bitco…
Very anti-crypto
Elizabeth Warren
@SenWarren
Stablecoins pose risks to consumers & to our economy. They’re propping up one of the shadiest parts of the crypto world, DeFi, where consumers are least protected from getting scammed. Our regulators need to get serious about clamping down before it is too late. pic.x.com/hMOT1HIQgn
Very anti-crypto
Elizabeth Warren
@SenWarren
Weak rules and loopholes allow criminals to launder money through shady real estate deals, digital assets, private equity and hedge funds. I'm glad @POTUS plans to crack down on corruption and illicit finance, and hold bad actors accountable.
cnn.com/2021/12/06/pol…
Very anti-crypto
Elizabeth Warren
@SenWarren
Cryptomining has huge environmental costs & is raising energy prices for consumers. Bitcoin alone consumes as much energy as Washington state. I'm calling on Bitcoin company @Greenidge_GREE to provide information on its operations & environmental impact.
bloomberg.com/news/articles/…
Very anti-crypto
Elizabeth Warren
@SenWarren
RT @SierraClub: 
Congress needs to get serious about crypto's climate harms.
nytimes.com/2021/10/07/bus… pic.x.com/DKcnGrYBOq
Congress needs to get serious about crypto's climate harms.
nytimes.com/2021/10/07/bus… pic.x.com/DKcnGrYBOq
Very anti-crypto
Elizabeth Warren
@SenWarren
In the face of high and unpredictable crypto fees, small investors could easily get jammed & wiped out. I told SEC Chair @GaryGensler that regulators need to step up to address crypto's regulatory gaps and ensure we're building the inclusive financial system that we need. pic.x.com/P355G8Y1ro
Very anti-crypto
Elizabeth Warren
@SenWarren
Bitcoin mining consumes roughly the same amount of electricity as Washington state—putting pressure on our power grids and worsening the #ClimateCrisis. We need to protect our planet and crack down on environmentally wasteful crypto mining practices.
nytimes.com/interactive/20…
Very anti-crypto
Elizabeth Warren
@SenWarren
In his response to my letter, @GaryGensler says cryptocurrency platforms lack adequate protections for investors. @SECGov needs to take action wherever it can, and I’m going to make sure that Congress steps up, too.
cnbc.com/2021/08/11/sec…
Very anti-crypto
Elizabeth Warren
@SenWarren
Cryptocurrency is the wild west of our financial system and desperately needs rules of the road to protect investors and our economy. I’m glad SEC Chair @GaryGensler agrees, and I’m going to keep pushing our regulators to act. bloomberg.com/news/articles/…
Very anti-crypto
Elizabeth Warren
@SenWarren
As the demand for cryptocurrencies grow, I’m urging @SecYellen and the Financial Stability Oversight Council to address crypto’s risks and regulate the market to ensure the safety of consumers and stability of our financial system. cnbc.com/2021/07/27/eli…
Very anti-crypto
Elizabeth Warren
@SenWarren
Cryptocurrency exchanges don’t have the same commonsense regulations as traditional securities exchanges to protect consumers from scams or manipulation. I’m asking the SEC to explain how it can close the regulatory gaps & ensure a safe crypto marketplace. reuters.com/article/usa-co…
Somewhat anti-crypto
Elizabeth Warren
@SenWarren
RT @BloombergTV: TUNE IN: We're talking cybersecurity, GameStop earnings and chatting crypto with Sen. Elizabeth Warren on BTech today.
Wa…
Very anti-crypto
Elizabeth Warren
@SenWarren
Bitcoin requires so much computing activity that it eats up more energy than entire countries. One of the easiest and least disruptive things we can do to fight the #ClimateCrisis is to crack down on environmentally wasteful cryptocurrencies. pic.x.com/derGr1bjuq
Very anti-crypto
Elizabeth Warren
@SenWarren
Digital currencies offer a lot of potential advantages over cash – but they need to be secure, stable, and accepted everywhere. A digital currency issued and backed by the Federal Reserve could provide the advantages of cryptocurrency without these risks. pic.x.com/atfgiw1Uit
Somewhat anti-crypto
Elizabeth Warren
@SenWarren
Cryptocurrencies’ promises to solve the problems in our banking system haven’t come to pass, but Congress and federal regulators can’t hide out and hope crypto will go away. It won’t. It’s time to confront these issues head on. pic.x.com/DaYUhM8Z7o
Very anti-crypto