U.S. Senator Elizabeth Warren expressed willingness to "cooperate" with the encryption industry, but reiterated that it must comply with tradfi rules

US Senator Elizabeth Warren has expressed her willingness to work with the cryptocurrency industry, but reiterated that the industry must abide by the same rules as traditional finance. Senator Warren is a member of the Senate Banking Committee and the Committee on Banking, Housing, and Urban Affairs. She has been critical of cryptocurrency and recently pushed for her anti-money laundering bill. In an interview with Bloomberg TV, Elizabeth Warren said, "I want to work with this industry. What I don't understand is why this industry seems to think that it can only survive if it leaves room for drug dealers and human traffickers, oh, and terrorists, ransomware scammers, consumer scammers, and rogue states. About half of North Korea's nuclear missile program is funded by cryptocurrencies, and all of this must remain open." In addition, Warren reiterated her position that it must follow the same rules as traditional finance. She said, "Remember, in our financial system, almost everyone follows the same set of rules. I'm talking about banks, credit unions, credit card companies, gold traders, and stockbrokers. Private equity funds now have to follow the rules. Precious metals dealers, Venmo, Western Union, but not cryptocurrencies."