June 10, 2021

U.S. Senator Elizabeth Warren has called on U.S. lawmakers to address the prevalent problems associated with the country’s increasing use of cryptocurrencies, as the country has failed to deliver on its promise to improve the economic lives of Americans.

Instead, she opted for a digital dollar, which she believes could help boost poorer Americans and streamline payment systems, if properly designed.

She said: “Cryptocurrency has created opportunities to scam investors, assist criminals, and worsen the climate crisis. The threats posted by crypto show that Congress and federal regulators can’t continue to hide out, hoping that crypto will go away. It won’t. It’s time to confront these issues head-on.”

For more information, read the original story in Reuters.