Top US Democrat signals fight over crypto market structure

The US Senate is not scheduled to be in session until Sept. 2, but Senator Elizabeth Warren offered a preview for how she may address the CLARITY Act.

With Congress not scheduled to return from recess for a few weeks, some US lawmakers are already signaling how they plan to address crypto-related legislation passed by the House of Representatives in July.

In a Sunday MSNBC Interview, Massachusetts Senator Elizabeth Warren, one of the more outspoken voices associating digital assets with illicit activities, said she supported regulation of the crypto industry. However, she suggested opposition to crypto market structure through the Digital Asset Market Structure Clarity (CLARITY) Act, introduced by Republicans and passed with bipartisan support in the House. 

“We need crypto regulation,” said Warren. “But we don’t need regulation written by the crypto industry that supercharges this kind of corruption. We need regulation that limits the corruption and the ability of elected officials to trade in it, that also limits the ability to blow up the economy with crypto.”

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