Crypto media outlet Coin Bureau shared a video on X of Senator Elizabeth Warren delivering remarks on the Senate floor ahead of the CLARITY Act vote. The bill failed to pass today, falling sh
Crypto media outlet Coin Bureau shared a video on X of Senator Elizabeth Warren delivering remarks on the Senate floor ahead of the CLARITY Act vote. The bill failed to pass today, falling short of the 60 votes needed for cloture, and Warren’s position remained consistent throughout the debate.
Warren’s Case Against the Bill
Warren argued the bill gives banks a green light to use Americans’ deposits to engage in crypto activities. She listed several permitted activities under the bill: lending against crypto as collateral, buying crypto directly, trading crypto derivatives, operating blockchain nodes, and selling crypto software.
She pointed to the volatility of crypto prices in recent years and warned of consequences. “Think about how the price of crypto shot up and down and up and down in just the last couple of years alone,” she said, “and then imagine what happens when the biggest banks in America use the money in your savings account to load up on that kind of crypto.”
Warren also raised concerns about state-level protections. She argued the bill blocks states and tribal nations from enforcing their own laws to protect citizens from fraud. She cited the president of the Indian Gaming Association, who reportedly called the bill “the greatest threat to tribal sovereignty in a generation.”
A Question of Priorities
Warren challenged the rationale for bringing the bill to a vote. She referenced a survey by crypto outlet CoinDesk, which she said found just 1% of respondents ranked crypto as their top concern. She argued voters want action on affordability, AI regulation, and anti-fraud measures. This bill fails to deliver on any of those fronts.
She stated that she supports crypto regulation, but not this version of it. “We do not need a crypto bill written by the crypto industry to benefit only the most extreme voices in the crypto industry,” she said.
Despite Trump agreeing to the ethics provisions by Democrats, she argued the bill would help “the most corrupt president in the history of the United States make himself even richer.”
The Response Online
The comments on Coin Bureau’s post reflected deep skepticism toward Warren. Many users accused her of dishonesty. Others called for her removal from office. Several comments referenced accusations of insider trading against Warren, with some suggesting her opposition to the bill was tied to financial interests in the banking sector.
Warren closed by urging Republican colleagues to negotiate a genuine bipartisan bill, and told all colleagues to vote no in the meantime. Her comments must have influenced the votes, as the bill died in the Senate with a 49-50 vote.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
Follow us on X, Facebook, Telegram, and Google News
The post Update for XRP Holders: What Elizabeth Warren Said After Voting Against CLARITY Act appeared first on Times Tabloid.