Kooky Massachusetts Senator Elizabeth Warren told a Senate Banking Subcommittee that Bitcoin is fueling climate change.
Warren called for the government to confront crypto threats “head on,” while saying a Federal Reserve-backed digital currency shows “great promise.”
“Cryptocurrency has created opportunities to scam investors, assist criminals, and worsen the climate crisis,” she said during the hearing. “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.”
Thankfully, Republicans pushed back on her desire for a government run crypto.
“We don’t need a state-sponsored bank interfering with this successful free-enterprise system,” said Senator Pat Toomey, who openly rooted for continued growth in existing cryptos.
Warren’s claim is that using computers to mine Bitcoin uses more energy — and therefore is destroying the planet.
“Bitcoin requires so much computing activity that it eats up more energy than entire countries. One of the easiest and least disruptive things we can do to fight the #ClimateCrisis is to crack down on environmentally wasteful cryptocurrencies,” Warren tweeted.
While Warren wants to keep you beholden to the federal reserve to curb carbon emissions, she has absolutely no problem flying on private jets.
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