Blockchain Association CEO speaks about the war of the crypto industry against US lawmakers

Kristin Smith believes that the confrontation will last more than a year

01.05.2023 - 15:40

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AUSTIN, Texas – The crypto industry is "absolutely at war" against policy and lawmakers in the U.S., particularly against Securities and Exchange (SEC) Chairman Gary Gensler and Senator Elizabeth Warren (D-Mass.), Blockchain Association CEO Kristin Smith said during a panel Friday at Consensus 2023.

"Elizabeth Warren has an anti crypto army. She is advertising on Twitter for her campaign, that she has an anti-crypto army," Smith said during "Beltway Confidential: Inside the D.C. Crypto Scene."

Sen. Warren's controversial Digital Asset Anti-Money Laundering Act (DAAMLA) was originally introduced in December and did not go anywhere. It was met with little fanfare and considerable criticism.

Smith, however, provided a glimmer of hope for the industry during the panel, saying that a pro-crypto "army," including the Blockchain Association, are fighting "in Washington every day" for the industry. "There's a reason that Elizabeth Warren has stalled her bill [and] that's because she lost co-sponsors," Smith said. "And that was because of the lobbying effort and education effort that went on" from the pro-crypto groups."

"So we're fighting. I don't think this is a war that lasts forever, but we're going to probably be at war for the next 18 to 20 months," Smith added.

This material is taken from the website https://www.coindesk.com.

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