Elizabeth Warren Slams CLARITY Act as ‘Written by the Crypto Industry’ Says It’s ‘Not Good Crypto Legislation’

blacknewsdaily2 hours ago

0 0 4 minutes read

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.

Sen. Elizabeth Warren (D-Mass.) renewed her criticism of the CLARITY Act, arguing the legislation prioritizes the cryptocurrency industry’s interests over consumer protection, national security and financial stability.

Crypto Needs Rules – But Not The CLARITY Act

During an interview at the Capitol Hill on Aug. 6, Warren said she supports federal legislation governing digital assets but rejected the current proposal.

“Of course, we need crypto legislation,” Warren said. “I’ve been saying this for a long time. I put together a crypto bill. But crypto legislation that has been written by the crypto industry to protect and advance the crypto industry… that’s not good crypto legislation.”

Don’t Miss:

She described the proposal as “a big giveaway to this zillion-dollar industry.”

According to Warren, the legislation would benefit crypto firms while failing to adequately protect retail investors and the broader financial system.

The remarks come as the Senate continues debating the market structure bill ahead of the August recess.

Warren Opposes Trump’s Crypto Ventures

Warren also tied her opposition to President Donald Trump’s growing involvement in digital assets and argued the bill could further benefit Trump’s crypto businesses.

“It helps Donald Trump make his next $1.4 billion on crypto scams,” Warren said.

The Senator accused the crypto industry of attempting to influence lawmakers, saying, “Crypto thinks they can buy a Congress that will do what they want.”

She also dismissed concerns that delaying legislation could push crypto companies overseas.

“I don’t even know what that means. You mean that they will do their money laundering overseas?” she said.

Warren added that, in her view, law enforcement officials oppose the bill because it could expand opportunities for money laundering, drug trafficking, human trafficking and terrorism financing.

Senate Outlook Remains Uncertain

Asked whether the CLARITY Act could advance before lawmakers leave for the August recess, Warren said she has not seen evidence that negotiations have resolved her concerns.

“As far as I’ve heard, they’ve still not solved the problem of corruption, of consumer protection, of national security, or protecting our economy,” she said.

“Until you solve those problems, I just don’t see how anyone, Democrat or Republican, moves forward on this bill.”

Image: Shutterstock

Read Next:

Building Wealth Across More Than Just the Market

Building a resilient portfolio means thinking beyond a single asset or market trend. Economic cycles shift, sectors rise and fall, and no one investment performs well in every environment. That’s why many investors look to diversify with platforms that provide access to real estate, fixed-income opportunities, precious metals, and even self-directed retirement accounts. By spreading exposure across multiple asset classes, it becomes easier to manage risk, capture steady returns, and create long-term wealth that isn’t tied to the fortunes of just one company or industry.

Arrived

Backed by Jeff Bezos, Arrived Homes makes real estate investing accessible with a low barrier to entry. Investors can buy fractional shares of single-family rentals and vacation homes starting with as little as $100. This allows everyday investors to diversify into real estate, collect rental income, and build long-term wealth without needing to manage properties directly.

Realberry

Institutional-quality real estate has traditionally been difficult for individual investors to access. Realberry gives accredited investors direct access to private real estate opportunities backed by a team with 35 years of experience, $3.4 billion in assets under management, and $481 million in cumulative distributions paid to investors as of Q4 2025, according to the company. With a portfolio spanning 13 million square feet across seven U.S. states, Realberry focuses on acquiring, developing, and managing real estate with an emphasis on long-term value creation while its principals often invest alongside clients to help align interests.

FarmTogether

Farmland has historically held its value through market volatility and delivered returns uncorrelated to stocks and bonds. For accredited investors, FarmTogether offers direct access to high-quality U.S. farmland starting at $15,000 — fully managed, with no landlord headaches.

Immersed

Immersed is building technology for the future of work through spatial computing. Known for its AR/VR productivity platform that enables users to work across multiple virtual screens, the company has grown to more than 1.5 million users worldwide. Immersed is also developing Visor, a lightweight headset designed specifically for professional productivity, positioning the company at the intersection of remote work, extended reality (XR), and next-generation computing.

Fundrise

Private real estate and private credit can add income and stability to a stock-heavy portfolio. Fundrise offers access to diversified private real estate and credit strategies through an easy-to-use platform, with professionally managed portfolios designed to generate passive income and long-term growth.

Mode Mobile

Mode Mobile is changing the way people interact with their phones by letting users earn money from the same apps and activities they already use every day. Instead of platforms keeping all the advertising revenue, Mode Mobile shares a portion back with users who engage with content, play games, and scroll on their devices. Named one of Deloitte’s fastest-growing software companies in North America, the company has built a large beta user base and is scaling a model that turns everyday smartphone usage into a potential income stream.