crypto strategy

Polls Suggest Elizabeth Warren’s Anti-Crypto Army Strategy Won’t Pay Off

US Senator from Massachusetts Elizabeth Warren is making her “anti-crypto” agenda one of the centerpieces of her re-election campaign, despite polls suggesting the majority of Americans believe crypto is a key innovation for the future.

In a March 30 tweet, Warren suggested she was fighting to put “government on the side of working families,” and prominently quoted a Politico headline that read, “Elizabeth Warren Is Building an Army anti-crypto”.

The “pro-crypto army” took to Twitter to castigate the senator. Popular YouTuber Corner Office ridiculed strategy, saying, “Imagine thinking that building an ‘anti-crypto army’ is going to win you votes?” while crypto lawyer Lord TJ suggested that the position will “push innovation overseas”.

While the senator no doubt has access to her own private polls on the issues, recent industry-commissioned polls suggest the position will not win a vote among the majority of the population.

In a February 24 investigation commissioned by crypto exchange Coinbase, a whopping 76% of the representative sample believed that “cryptocurrency and blockchain are the future”.

A survey commissioned by digital asset management firm Grayscale Investments in November 2022 shared similar sentiments, with some interesting responses. suggest that 59% of Democrats see crypto as the future of finance. That’s more than the 51% of Republicans who said the same.

Democrats versus Republicans on crypto as the future of finance. Source: Grayscale

However, in Warren’s favour, 2022 crises such as the BlockFi, FTX and Terra Luna collapses weighed heavily on crypto sentiment among the public, with a recent Morning Consult survey concluding that confidence in crypto had dropped during the year.

The phrase “Elizabeth Warren is building an anti-crypto army” was first featured in a February 14 Politico articlewhich claimed that she was “beginning to recruit conservative Senate Republicans to her anti-crypto cause and getting early positive vibes from bank lobbyists.”

Related: Elizabeth Warren Pushes Senate To Ban Your Crypto Wallet

The senator, however, seems to have taken a liking to the phrase, given that she prominently featured it in her re-election campaign.

Warren has long been a vocal critic of crypto, and even suggested it would ruin the economy in a Wall Street Journal op-ed shortly after crypto exchange FTX collapsed.

On February 14, Warren promised to reintroduce an anti-money laundering (AML) bill she had previously pushed, which would extend to decentralized finance (DeFi) and decentralized autonomous organizations (DAOs). ), while also requiring non-hosted wallets, miners and validators to implement AML policies.

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