US Senator Elizabeth Warren, one of many extra outspoken voices in opposition to digital belongings in Congress, is looking for solutions from Justice Division and Treasury Division officers a few potential investigation into decentralized crypto exchanges, citing issues over PancakeSwap and Uniswap.
In a Monday letter to Treasury Secretary Scott Bessent and US Lawyer Common Pam Bondi, Warren requested whether or not their respective departments have been “investigating vital nationwide safety dangers posed by decentralized cryptocurrency exchanges like PancakeSwap.”
The Massachusetts senator raised issues about “improper political affect” from the Trump administration over the selective enforcement of crypto firms and stories of cash laundering tied to North Korea, asking for a response by Jan. 12.
“As Congress considers crypto market construction laws—together with guidelines to forestall terrorists, criminals, and rogue states from exploiting decentralized finance (DeFi) to fund their actions—it’s important to know whether or not you might be significantly investigating these dangers,” Warren wrote to Bessent and Bondi, including:
“The general public deserves to know whether or not you might be investigating the intense dangers recognized by nationwide safety specialists and the crypto business itself.”
Warren’s letter got here because the US Senate ready to wind down actions earlier than the chamber broke for the vacations. Some Republicans on the Banking Committee had anticipated to deal with the digital market construction invoice, referred to as the Accountable Monetary Innovation Act, earlier than the tip of the yr. Nonetheless, Chair Tim Scott confirmed on Monday {that a} markup listening to on the laws had been pushed to 2026.
Associated: High US Democrat alerts combat over crypto market construction
The Massachusetts senator additionally raised issues over stories that PancakeSwap had been “drumming up curiosity amongst merchants to make use of cash issued by the Trump household’s predominant crypto firm, World Liberty Monetary.”
Some Senate Democrats have raised issues in regards to the US president’s potential affect and conflicts of curiosity concerning the laws, given his and his household’s ties to the crypto business.
XRP lawyer who challenged Warren in 2024 will run once more
John Deaton, the lawyer who ran in opposition to Warren within the 2024 US election, is making one other bid for Congress. Deaton has been an advocate for XRP (XRP) holders in courtroom, rising as a outstanding determine within the cryptocurrency business over the previous few years.
In November, he introduced that he would run as a Republican for the US Senate once more in 2026. Warren just isn’t up for reelection subsequent yr, so Deaton might be making an attempt to unseat Democratic Senator Ed Markey.
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