Senate Ethics Committee Urged to Investigate Senator Elizabeth Warren on Misleading Crypto Statements

The CEO of the Chamber of Digital Commerce says the Senate Ethics Committee should launch a full investigation on Senator Elizabeth Warren for making false and misleading statements about crypto. “Senator Elizabeth Warren has misled the American people as well as the U.S. Congress on multiple fronts,” she stressed.

‘Senate Ethics Committee Should Launch a Full Investigation’

Chamber of Digital Commerce founder and CEO Perianne Boring slammed U.S. Senator Elizabeth Warren (D-MA) for making false and misleading statements regarding cryptocurrency in an interview with Fox Business on Thursday.

“Senator Elizabeth Warren has misled the American people as well as the U.S. Congress on multiple fronts,” the Chamber of Digital Commerce chief began. “First, she’s misled us to believe that crypto has an AML [anti-money laundering] problem,” she continued, emphasizing:

It does not have an AML problem. The vast majority of illicit finance go through the traditional financial system and legacy banking infrastructure. It’s not happening in the cryptocurrency space.

Boring then explained that every crypto transaction is recorded on a blockchain, adding that “law enforcement has greater tools to track and trace on a blockchain than they do on legacy infrastructures.”

The second area in which Senator Warren has misled Congress and the American public concerns her bill: the Digital Asset Anti-Money Laundering Act. “This bill was introduced under the guise of anti-money laundering to fix the non-existent compliance gap,” Boring described. “She has misled the U.S. Senate and now 20% of the U.S. Senate is sponsoring this bill that they think is going to address the compliance issue.”

The Chamber of Digital Commerce CEO pointed out: “If you read the legislation, you will quickly understand that the requirements are technically impossible to implement in a blockchain-based environment, making it illegal for U.S. persons to use the technology, which effectively bans it for U.S. persons.” She stressed that if the bill passes, it “would be absolutely detrimental” for the crypto space and innovation in the U.S.

Emphasizing that “misleading statements” about crypto “have been perpetuated by a member of the U.S. Senate, the crypto advocate stressed:

Elizabeth Warren must be taken seriously, and the Senate Ethics Committee should launch a full investigation on this.

The Chamber recently started a petition on Change.org titled “Stop The Crypto Ban.” At the time of writing, over 10,000 signatures have been collected.

Do you think the Senate Ethics Committee should launch a full investigation on Elizabeth Warren for making false and misleading statements about crypto? Let us know in the comments section below.