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A video circulating on social media features Senator Roger Marshall openly admitting that he and Senator Elizabeth Warren sought assistance from the American Bankers Association (ABA), the largest lobbying organization for U.S. banks, in drafting the Digital Asset Anti-Money Laundering Act. Senators seek assistance from American Bankers Association 
The bill, introduced in December 2022, is designed to subject various crypto technologies, including non-custodial wallets, validators, and mining pools, to strict banking regulations in the United States. Marshall disclosed, “The first thing that we did is that we went to the American Bankers Association and said ‘Help us craft this’.” He also referenced a meeting between Warren and JPMorgan CEO Jamie Dimon, during which both allegedly agreed that “crypto was only a tool for criminals.” This information was obtained from a parliamentary security-intelligence forum earlier this month. 
Also Read: <a href="https://news.todayq.com/sec-actions-bring-regulatory-uncertainty-to-us-crypto-industry-coinbase/">SEC actions bring regulatory uncertainty to US Crypto industry</a> Coinbase CEO reactions and political strategies 
Coinbase CEO Brian Armstrong expressed disappointment, highlighting that being anti-crypto is an unfavorable political strategy for Senators Warren and Marshall as the 2024 elections approach. Armstrong warned, “Being anti-crypto is a really bad political strategy going into 2024.” Brian also shared data, including the fact that 52 million Americans have used crypto and 38% of young people believe crypto can increase economic opportunities. 
Senators Warren and Marshall now lobbying for big banks 🙃Being anti-crypto is a really bad political strategy going into 2024* 52m Americans have used crypto* 38% of young people say crypto can increase economic opportunities* just 9% of Americans satisfied with the… 
Responding to the video, finance lawyer Scott Johnsson suggested that voters dissatisfied with Senator Warren’s perspective should focus on vulnerable seats that have supported her anti-crypto efforts over the past year. 
On December 11, the Digital Asset Anti-Money Laundering Act gained five new co-sponsors in the Senate, including three members of the Banking Committee. The Bank Policy Institute (BPI), a U.S. banking advocacy group, has also thrown its support behind Senator Warren’s anti-crypto legislation. 
If you're angry at Elizabeth Warren, don't spend your time and resources trying to oust her out of her Senate seat in MA. That's not worth the energy. Instead, focus on vulnerable seats that have supported her crusade this past year. A list: 
Critics of the bill often argue that digital assets are predominantly used for nefarious activities, despite evidence to the contrary. Blockchain analysis platform Chainalysis reported that less than 0.2% of crypto is used for illicit purposes. 
It is worth noting that anti-crypto advocates frequently overlook the prevalence of criminal activity in traditional finance. JPMorgan, one of the leading banks on Wall Street, has paid nearly $40 billion in fines for various violations since 2000, according to Violation Tracker. 
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Anti-Crypto a bad political strategy for 2024, Coinbase CEO

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