Democrats Unload on Crypto Industry

“At a moment when Congress is finally debating whether and how to seriously regulate the cryptocurrency industry, a split appears to have formed in the Democratic Party. Some of its lawmakers are contemplating how to harness blockchain technology into a force for innovation, while scaling back its early excesses,” Semafor reports.

“Then there’s a group you might call the ‘bullshit caucus.'”

Said Sen. Jon Tester (D-MT): “It’s all bullshit. I don’t think it passes the smell test. I can’t figure out what supports it.”

Added Sen. Elizabeth Warren (D-MA): “Finally, there are more people blowing the bullshit whistle. There’s been a lot of lobbying around Congress and an effort to try to scare off lawmakers. To say ‘Oh, crypto is just so complicated. No one can understand it. Let the crypto world remain unregulated.’ That is precisely the argument that was made in the run-up to the 2008 crash.”