Sen. Elizabeth Warren (D-MA) demanded that her fellow federal lawmakers confront the growing use of cryptocurrency on Wednesday and blamed Bitcoin for worsening the “climate change” crisis.
Speaking to a Senate Banking Subcommittee hearing, Warren, who considers herself a “consumer advocate” and an opponent of Wall Street banks, according to Yahoo News, suggested that cryptocurrency is responsible for everything from an increase in international crime to a spike in carbon emissions.
“Cryptocurrency has created opportunities to scam investors, assist criminals, and worsen the climate crisis,” Warren said in the hearing. “The threats posed by crypto show that Congress and federal regulators can’t continue to hide out, hoping that crypto will go away. It won’t. It’s time to confront these issues head-on.”
In fact, Warren suggested later on social media that “one of the easiest and least disruptive things” federal legislators can do to curb the “climate crisis” is to take action against “environmentally wasteful” cryptocurrencies.
“Bitcoin requires so much computing activity that it eats up more energy than entire countries. One of the easiest and least disruptive things we can do to fight the #ClimateCrisis is to crack down on environmentally wasteful cryptocurrencies,” Warren tweeted, again promoting her idea that mining Bitcoin was somehow more destructive to the environment than traditional banking.
She repeated the claim again in conversation with Yahoo Finance, telling the outlet’s editor in chief that “with bitcoin, and with the other cryptocurrencies, I think there’s a real issue about the environmental impact as well, this whole notion of how much energy is consumed just to keep the currency tracking going.”
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