US Representative Tom Emmer claims that “Control Freak” Senators and “Bad-Faith” Regulators wish to regulate crypto

US Representative Tom Emmer (R-Minnesota) believes that crypto-critical legislators and regulators only seek to maintain control over the nation’s financial system.

He calls Elizabeth Warren (D-Massachusetts), a crypto skeptic senator, a “control freak senator.”

“Despite this, she is frantic to maintain the centralization and control that come with central banking. And while I am not opposed to central banking – I believe it serves a vital function, and I believe we will always have the two-tier banking system to which we are acclimated – it will have to adapt to the 21st century. And they are powerless when you bring up digital assets and cryptocurrencies. If China cannot halt it despite having outlawed all mining, which they have not fully achieved, what do you believe the country that still practices freedom will do?”

In recent years, Warren has attacked the cryptocurrency industry, arguing that it facilitates money laundering. In 2022, she implored the Treasury Department to “contain crypto” by any means possible. She sent an open letter to Binance CEO Changpeng Zhao and Binance.US CEO Brian Shroder last month, accusing the exchange of avoiding the enforcement of anti-money laundering, securities, and information reporting laws.

Emmer says regarding the SEC chairman: “This individual, in my opinion, is a regulator of poor faith. He has been indiscriminately bombarding the crypto community with enforcement actions while ignoring the genuinely malicious actors. People inquire, “What are we doing?”

In December 2020, the SEC filed a lawsuit against Ripple, alleging that the San Francisco-based payments company sold XRP as an unregistered security for years. The high-profile court proceeding continues.

Read Also: Paxful Co-Founder Declares He Will Repay Users With His Own Money Because He Doesn't Want to Go to Prison

Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.