Senator Elizabeth Warren has issued warnings regarding the potential risks posed by cryptocurrencies and political actions on the U.S. economy and financial markets. Warren stated that cryptocurrencies could "blow up" the entire U.S. economy, expressing concerns about crypto legislation that might place digital assets on the blockchain outside the jurisdiction of the Securities and Exchange Commission (SEC). Additionally, Warren cautioned that if President Donald Trump were to fire Federal Reserve Chair Jerome Powell, it could lead to a market crash and undermine the Federal Reserve's independence. She also criticized the Clarity Act, suggesting it could allow major New York Stock Exchange (NYSE) firms to evade regulatory oversight. These remarks highlight Warren's apprehensions about both the emerging crypto sector and political interference with key financial institutions.
Yellen has concerns about Bitcoin and crypto legislation because it’s something she can’t understand. Legislation allows for consumer protections… Yikes https://t.co/kQCRsyhCzB
JUST IN: FORMER FED CHAIR YELLEN SAYS TRUMP'S #BITCOIN AND CRYPTO REGULATION PRESENTS SIGNIFICANT "RISKS" To... financial dinosaurs😂 https://t.co/wrjmv5G2kS
Incredible what can open up when your SEC chair isn't working for Senator Warren https://t.co/B5LLOOjXM4