Democratic Senator Elizabeth Warren is introducing a proposed framework for regulating the cryptocurrency market, emphasizing consumer protection and oversight.
Warren criticizes Republican colleagues' crypto principles, stating they cater excessively to the crypto lobby and could undermine existing securities laws.
Warren's framework includes applying established protections and anti-money laundering regulations to the digital asset sector, along with measures to prevent corruption linked to presidential involvement in crypto ventures.
The Senate is divided on crypto legislation, with Republicans focusing on innovation and Warren emphasizing regulations; a market structure bill is in the works to delineate oversight responsibilities between the SEC and CFTC.