US Senator Elizabeth Warren says that the SEC made the wrong decision in approving Spot Bitcoin ETF applications. In a post on X addressing the regulator’s decision, Senator Warren says that more enforcement is needed if we will allow crypto further into everyday finance.
Also Read: Vanguard Says They Will Not Offer Spot Bitcoin ETFs
The “[SEC] is wrong on the law and wrong on the policy with respect to the Bitcoin ETF decision,” her post reads. She then adds, “If the SEC is going to let crypto burrow even deeper into our financial system, then it’s more urgent than ever that crypto follow basic anti-money laundering rules.”
January 10 marked a landmark achievement for cryptocurrency, with the SEC ruling to accept pending Spot Bitcoin ETF applications. The move allows Bitcoin to be much more accessible in everyday banking. As the leading cryptocurrency in terms of volume, market cap, and value, it also sets the stage for future ETFs of other cryptocurrencies, such as Ethereum and even Ripple’s XRP.
Reactions were mixed in response to the SEC’s decision, especially within the government. However, one reaction that was certain was that of Bitcoin price. BTC has been in the green throughout the first day of Spot ETF trading. Bitcoin will only rise more as the next halving creeps closer and more bank clients get acclimated with Bitcoin ETFs.
Also Read: Spot Bitcoin ETF Trading Volume surpasses $4.5B in it’s First Day.
Elizabeth Warren, however, has always been a voice opposing crypto as a whole. The senator remains on the fence about the SEC’s decision. She also stands on the side of cryptocurrency being used for digital theft and financing crime. Elizabeth Warren was expected to oppose Bitcoin ETFs even after SEC approval; her latest X posts confirm that.