Schumer Sets Stage for New Era of U.S. Crypto Politics

The Biden Administration has said little publicly on the issue but has quietly backed a host of crypto-unfriendly actions through the Department of Treasury and, by proxy, the Securities and Exchange Commission. Senator Elizabeth Warren (D-Mass.), a close ally of SEC Chair Gary Gensler, is widely seen to have driven the administration crypto policy, which has involved a host of aggressive enforcement actions against the industry, while offering few clear guidelines as to what is and isn’t permissible when dealing in digital assets in the United States. So, to see Schumer make time on his schedule, appear at the Crypto4Harris event and make a legislative commitment is, to use a Biden phrase, a BFD.