Senator Elizabeth Warren compared cryptocurrencies to the US mortgage crisis




Elizabeth Warren, a member of the US Senate Banking Committee, compared the digital asset market to the 2008 economic crisis in an interview with NBC. CoinDesk reports it.

“The whole digital world is like a bubble. What is the basis of its growth? People tell themselves that everything will be fine, as it was with the real estate market,” Warren explained. .

She also suggested that the Fed accelerate the development of the digital dollar. Warren believes that CBDCs will help central banks improve the situation in the digital segment of the financial market.

The senator added that sooner or later bitcoin will be regulated by the authorities. She did not say how the government plans to achieve such control.

In March, Warren introduced a bill allowing the US Treasury to block transactions from bitcoin exchanges with addresses of individuals on sanctions lists. The initiative has been criticized in the crypto community.

Recall that in September 2021, Warren noted the need to regulate the digital asset industry amid a market crash and related disruptions in the functioning of bitcoin exchanges.

She previously called cryptocurrencies “new shadow banks” that fail to protect their users.

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