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Garlinghouse and Novogratz React to Warren's Push to Regulate Cryptocurrencies

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Wed, 07/28/2021 - 07:01
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Alex Dovbnya
Cryptocurrency luminaries have weighed in on Elizabeth Warren’s most recent comments
Garlinghouse and Novogratz React to Warren's Push to Regulate Cryptocurrencies
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Elizabeth Warren’s most recent push to crack down on cryptocurrencies has attracted strong rebukes within the cryptocurrency community.  

Galaxy Digital CEO Mike Novogratz said that the Massachusetts senator didn’t seem “so progressive” to him because of her anti-crypto comments.

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During a July 27 hearing held by the U.S. Senate Banking Committee, Warren described the industry as "shadowy" and "faceless": 

Instead of leaving our financial system at the whims of giant banks, crypto puts the system at the whims of some shadowy faceless group of super coders and miners, which doesn’t sound better to me.

Ripple CEO Brad Garlinghouse looked at the things on the bright side, taking note of the progress that lawmakers have made when it comes to understanding crypto.

As reported by U.Today, Warren also sent a letter to Treasury Secretary Janet Yellen, pressing her to deal with numerous risks posed by stablecoins and decentralized finance.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.