Everyone Hates Elizabeth Warren’s Crypto Regulation Bill

Massachusetts U.S. Senator Elizabeth Warren is trying to impose sanctions on Russia and regulate cryptocurrencies at the same time. She's pissed off at the whole thing, but also at non-crypto people.

The new Russia/cryptocurrency regulation bill by Sen. Warren is an attempt to squeeze businesses that do business with both Russia and the US by forcing them to choose between the two countries.

Some major issues with the proposed legislation have been noted by many critics.

The Coin Center think tank wrote in a post that the bill's key conceit is not true, given the public nature of the ledgers. A host of activities that are not criminal would be criminalized by its broad language.

The bill would place sweeping restrictions on persons who build, operate, and use cryptocurrencies even if they have no knowledge or intent to help anyone evade sanctions.

Some Democrats on Capitol Hill have taken issue with Warren's attempts to regulate the burgeoning industry as well.

The future of finance and the internet should not be left to a gerontocracy of regulators, according to a congressman.

He said that technology should not be defined by its worst uses.

The language of the bill makes it seem like it's about regulation, even though some of Warren's own people think so.

The bill is terribly written, blatantly opportunistic and attacks a problem that doesn't exist.

The backlash to the bill resulted in calls for concerted political action from a crowd that generally doesn't do that type of thing. Some people have suggested that Americans who own crypto should leave the country.

It is rare for people from many walks of life to agree on the same things. If Warren's bill is passed, it may look a lot different.

Elizabeth Warren's Sanctions Bill Is Unconstitutional.

Major exchanges say they won't shut down Russian transactions unless they are forced to.

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