{"id":34855,"date":"2025-01-14T15:30:25","date_gmt":"2025-01-14T12:30:25","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=34855"},"modified":"2025-01-14T15:03:58","modified_gmt":"2025-01-14T12:03:58","slug":"trumps-crypto-war-begins-senators-letter-targets-crypto","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/trumps-crypto-war-begins-senators-letter-targets-crypto\/","title":{"rendered":"Trump\u2019s Crypto War Begins: Senator\u2019s Letter Targets Crypto!"},"content":{"rendered":"<p>US Senator Elizabeth Warren has penned an open letter to President-elect Donald Trump\u2019s Treasury Secretary nominee, Scott Bessent, urging stricter regulations for digital assets. Warren argued for the expansion of Anti-Money Laundering (AML) and Counter-Terrorism Financing (CFT) programs to cover the crypto sector more comprehensively.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/trumps-crypto-war-begins-senators-letter-targets-crypto\/#Warrens_Open_Letter_and_Criticism_of_Crypto\" title=\"Warren\u2019s Open Letter and Criticism of Crypto\">Warren\u2019s Open Letter and Criticism of Crypto<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/trumps-crypto-war-begins-senators-letter-targets-crypto\/#Is_Trumps_Crypto-Friendly_Agenda_on_the_Horizon\" title=\"Is Trump\u2019s Crypto-Friendly Agenda on the Horizon?\">Is Trump\u2019s Crypto-Friendly Agenda on the Horizon?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/coinengineer.net\/blog\/trumps-crypto-war-begins-senators-letter-targets-crypto\/#Excitement_Grows_in_the_Crypto_Industry\" title=\"Excitement Grows in the Crypto Industry\">Excitement Grows in the Crypto Industry<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Warrens_Open_Letter_and_Criticism_of_Crypto\"><\/span>Warren\u2019s Open Letter and Criticism of Crypto<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In her January 12 letter, Warren highlighted the use of digital assets by bad actors for money laundering, sanctions evasion, and financing national security threats. Citing examples such as North Korea\u2019s nuclear program, Russia\u2019s attacks on Ukraine, and ransomware incidents, Warren stated, \u201cThese threats pose serious risks to US national security.\u201d<\/p>\n<p>She posed several questions for Bessent to address during his confirmation hearing:<\/p>\n<ul>\n<li>Should the Office of Foreign Assets Control (OFAC) have authority over stablecoins?<\/li>\n<li>Should the scope of the Bank Secrecy Act (BSA) extend to foreign crypto companies linked to US markets?<\/li>\n<li>Should secondary sanctions be introduced to cut fintech and crypto operators from US relations?<\/li>\n<\/ul>\n<p>Warren has previously introduced the <strong>Digital Asset Anti-Money Laundering Act<\/strong> in 2022 and 2023. However, the proposal faced criticism from US-based crypto advocates and 80 former security officials, who argued it could push the industry overseas and heighten national security risks.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2025-01\/019462b6-075f-779e-b863-1d25524fe200\" alt=\"trump\" width=\"723\" height=\"866\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Is_Trumps_Crypto-Friendly_Agenda_on_the_Horizon\"><\/span>Is Trump\u2019s Crypto-Friendly Agenda on the Horizon?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Donald Trump, set to be inaugurated on January 20, is expected to take significant steps favoring the crypto sector. According to The Washington Post, Trump may sign executive orders addressing crypto de-banking and overturning a rule that requires banks to report crypto assets as liabilities.<\/p>\n<p>During the Bitcoin 2024 Conference, Trump vowed to make the US a \u201ccrypto capital,\u201d promising a Bitcoin strategic reserve and reduced regulatory pressure on the industry.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2025-01\/019462b4-6347-70a2-9a5f-c8ea25abb450\" alt=\"trump\" width=\"1920\" height=\"1080\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Excitement_Grows_in_the_Crypto_Industry\"><\/span>Excitement Grows in the Crypto Industry<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Trump\u2019s Treasury appointments and executive orders are highly anticipated by the crypto community. Additionally, venture capitalist <strong>Marc Andreessen<\/strong> has reportedly been advising Trump on key administration roles, focusing on technology, defense, and intelligence.<\/p>\n<p>Trump\u2019s policies could eliminate Biden-era restrictions like &#8220;Operation ChokePoint 2.0,&#8221; which limited the industry\u2019s access to financial services. Meanwhile, Warren\u2019s calls for stricter oversight signal potential challenges ahead.<\/p>\n<hr \/>\n<p><em>You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Telegram,\u00a0<\/strong><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"nofollow noopener\"><strong>YouTube<\/strong><\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0<a title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\">news<\/a>\u00a0and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>US Senator Elizabeth Warren has penned an open letter to President-elect Donald Trump\u2019s Treasury Secretary nominee, Scott Bessent, urging stricter regulations for digital assets. Warren argued for the expansion of Anti-Money Laundering (AML) and Counter-Terrorism Financing (CFT) programs to cover the crypto sector more comprehensively. Warren\u2019s Open Letter and Criticism of Crypto In her January<\/p>\n","protected":false},"author":28,"featured_media":33912,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,657,2],"tags":[7290,61,192,11016,6033,5760,1151,3310,11017,11015],"class_list":["post-34855","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-en","category-news","tag-aml","tag-bitcoin","tag-blockchain","tag-cft","tag-crypto-regulation","tag-digital-assets","tag-stablecoins","tag-trump","tag-us-treasury","tag-warren"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Trump\u2019s Crypto War Begins: Senator\u2019s Letter Targets Crypto! - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/trumps-crypto-war-begins-senators-letter-targets-crypto\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trump\u2019s Crypto War Begins: Senator\u2019s Letter Targets Crypto! - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"US Senator Elizabeth Warren has penned an open letter to President-elect Donald Trump\u2019s Treasury Secretary nominee, Scott Bessent, urging stricter regulations for digital assets. 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