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Ripple's Alderoty Urges Caution Before Joining Sen. Warren's Anti-Crypto Campaign

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Fri, 31/03/2023 - 19:58
Ripple's Alderoty Urges Caution Before Joining Sen. Warren's Anti-Crypto Campaign
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Stuart Alderoty, Ripple's general counsel, criticized Massachusetts Senator Elizabeth Warren's efforts to build an anti-cryptocurrency coalition today via Twitter.

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"Before other politicians join Sen. Warren’s anti-crypto army, remember her 2020 campaign for the Democratic presidential nomination failed so miserably she dropped out after being declared unelectable," he said. 

Alderoty's tweet follows Warren's re-election campaign post earlier this week, which mentioned her intention to create a united front against the rapidly growing digital asset industry.

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During her 2020 presidential campaign, she established herself as one of the leading progressive voices. However, her campaign struggled to pick up steam, which is why she eventually withdrew from the race in March 2020.

Despite her unsuccessful bid for the presidential nomination, Warren remains a prominent voice in the Democratic Party. She has as a leading figure in the push for increased crypto oversight.

In February, Politico reported that she had been trying to gain support from conservative Senate Republicans for her crypto legislation. Her bill will make it possible to impose stricter anti-money laundering measures. 

An alliance between progressives, conservatives, watchdog groups, and the banking sector would be aimed at curbing cryptocurrency's expansion.

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