Massachusetts Senator Elizabeth Warren is leading the charge against crypto once again. In a video posted on Dec. 15, she said that stablecoins pose risks to consumers and the economy because they are “propping up one of the shadiest parts of the crypto world, DeFi, where consumers are least protected from getting scammed.”
It is not the first time she has branded the crypto industry “shady” or similar. In July, the angry Senator said that “shadowy super coders” were behind crypto, making it a threat to the U.S. financial system.
This most recent tirade was unleashed at a Senate Committee on Banking, Housing, and Urban Affairs hearing on Dec. 14.
Stablecoins pose risks to consumers & to our economy. They’re propping up one of the shadiest parts of the crypto world, DeFi, where consumers are least protected from getting scammed. Our regulators need to get serious about clamping down before it is too late. pic.twitter.com/hMOT1HIQgn
— Elizabeth Warren (@SenWarren) De
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