Hyperlink Nº9—Warren's Bill, and Mainstream Coverage
March 21st, 2022
Misguided Regulation Attempts
Warren bill draws outcry over broad terms, but seems unlikely to pass [The Block]
Senator Elizabeth Warren introduced legislation to target the use of crypto by Russians. The proposed bill would enable service providers, namely exchanges, to take action against anyone found to be evading sanctions or supporting another person or entity in evading sanctions.
The bill has not gained any widespread support, and leaders in the crypto space remain confident that it will not get any traction in its current form.
The clip below lays out Elizabeth Warren’s agenda.
Mainstream Media Slowly Begins to Support Crypto
One thing to keep an eye on going forward is the mainstream media’s slow adoption of the growing crypto narrative that’s been building within the crypto community for some time.
There were obvious early attempts to malign crypto and its supporters, but it appears that crypto has survived the many attempts to tar-and-feather it out of existence. The more momentum it gains, the more likely we are to see full-page spreads like the NYT Sunday Edition above.
Movements are difficult to stop or redirect. Often the forward momentum is simply too strong. A slowly shifting narrative from the mainstream toward support of crypto reads as highly bullish for the space over the coming years.