Elizabeth Warren flips on crypto vows to end debanking
Key Takeaways
- Elizabeth Warren is collaborating with Donald Trump to address crypto debanking issues.
- FDIC documents revealed crypto-related banking restrictions that predate the Trump administration.
US Senator Elizabeth Warren has shifted her stance on crypto regulation.
During the hearings earlier today, she pledged to work with former President Donald Trump to tackle the issue of debanking in the crypto industry.
WARREN: “So debanking is a real problem, and we need to work across the aisle to solve it.”
This is like an arson bemoaning the sudden uptick in house fires.
Don’t be fooled.
It was Elizabeth Warren and her acolytes in the Biden admin who orchestrated the debanking scandal in… pic.twitter.com/2qcsgIaSqD
— Sam Lyman (@SamLyman33) February 5, 2025
Warren, previously known for her skepticism toward digital assets, is now focusing on investigations into banks that have denied services or closed accounts of crypto-related businesses and individuals. This practice, known as debanking, has been a significant concern for the crypto industry.
“Debanking is a real problem, and we need to work across the aisle to solve it,”, said Senator Warren.
The development comes amid revelations from newly disclosed Federal Deposit Insurance Corporation (FDIC) documents that indicate crypto-related restrictions were implemented during the previous administration.
