Senator Elizabeth Warren’s Opinions Face Backlash From X’s “Community Notes”

Published 23/01/2024, 10:16
Updated 23/01/2024, 10:45
Senator Elizabeth Warren’s Opinions Face Backlash From X’s “Community Notes”

Coin Edition -

  • Senator Elizabeth Warren got “community noted” after claiming nations were using crypto to dodge U.S. sanctions.
  • Rogue nations were undermining U.S. national security, according to Warren.
  • Community note highlighted that fiat is the preferred currency for financial crimes.

Senator Elizabeth Warren got “community noted” after claiming nations were using cryptocurrencies to dodge United States sanctions.

Community notes on X were introduced to “create a better informed world,” according to X’s help center. The feature allows users to add context to potentially misleading information.

Warren stated that “rogue nations” were benefiting from crypto and undermining U.S. national security. Moreover, Warren added, “It’s time for crypto to follow the same anti-money laundering rules as everyone else.”

A community note on Warren’s statement countered her opinion, asserting that fiat is the preferred currency for financial crimes. The community note cited the U.S. Treasury Department’s February 2022 National Money Laundering Risk Assessment Report.

Additionally, the anti-crypto senator mentioned that she proposed legislation to regulate crypto and make it adhere to anti-money laundering rules. Warren said, “I’ve got a bill to make it happen.”

Warren’s controversial bill, named the Digital Asset Anti-Money Laundering Act, has received criticism from many crypto figures. Coinbase (NASDAQ:COIN) CEO Brian Armstrong criticized Warren’s anti-crypto bill, stating, “Being anti-crypto is a really bad political strategy going into 2024.”

Furthermore, the senator labeled crypto as a “new threat,” alleging that crypto is being utilized for terrorist financing and drug trafficking. Moreover, Warren claimed that North Korea is using cryptocurrency to pay for half of its nuclear weapon program.

Recently, Warren shared her opposition to the U.S. Securities and Exchange Commission’s (SEC) approval of the spot Bitcoin ETF launch. Coin Edition reported that the senator claimed, “There’s no doubt that the SEC made the wrong decision here.”

The post Senator Elizabeth Warren’s Opinions Face Backlash From X’s “Community Notes” appeared first on Coin Edition.

Read more on Coin Edition

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.