Senator Elizabeth Warren blasted crypto currencies like Bitcoin as having “created opportunities to scam investors, assist criminals, and worsen the climate crisis.”
Addressing a Senate hearing on Wednesday, Warren called on Congress and Biden Administration to tackle issues presented by the growing use of cryptocurrency. while saying a Federal Reserve-backed digital currency shows “great promise.”
“The government must act to address a host of problems,” she said. “The threats posted by crypto show that Congress and federal regulators can’t continue to hide out, hoping that crypto will go away. It won’t. It’s time to confront these issues head-on.”
“Cryptocurrency has created opportunities to scam investors, assist criminals, and worsen the climate crisis,” continued Warren.
Warren also blasted Bitcoin as non-environmentally friendly. “A single Bitcoin transaction uses more energy than a typical US household in a month. I think the estimate is 53 days, she said.
In a tweet on Wednesday she also said that “one of the easiest and least disruptive things we can do to fight the #ClimateCrisis is to crack down on environmentally wasteful cryptocurrencies.” Bitcoin requires so much computing activity that it eats up more energy than entire countries. One of the easiest and least disruptive things we can do to […]