Elizabeth Warren is an American politician and current United States Senator from Massachusetts. She was previously the special adviser for the Consumer Financial Protection Bureau and a professor of law at Harvard Law School. A member of the Democratic Party since her election in 2012, Elizabeth Warren has been an outspoken advocate for economic justice, consumer protection, and progressive taxation throughout her career.
Warren’s advocacy around finance-related issues began with her work on bankruptcy reform during the early 2000s. In 2009, she served as chair of the Congressional Oversight Panel overseeing how bailout funds were being spent. Later that year she worked to establish the Consumer Financial Protection Bureau (CFPB), which was formed to protect consumers from financial fraud, deceptive practices, and other abuses by financial institutions. She has also championed legislation aimed at curbing corporate influence over politics through campaign finance reform laws such as The Democracy Is Strengthened by Casting Light On Spending in Elections (DISCLOSE) Act proposed in 2010 and 2013; both bills failed to pass Congress due to Republican opposition.
More recently, Warren announced plans for a new bill called Cryptocurrency Act 2020 which would create more clarity surrounding cryptocurrency regulations in the US by providing a comprehensive framework for federal agencies’ roles when it comes to digital assets like Bitcoin or Ethereum. This includes having three different types of crypto asset classes—commodity-backed tokens (such as stablecoins), security tokens (which represent ownership interests) ,and utility tokens (used within decentralized applications). This proposal seeks to provide regulatory certainty while still allowing innovation within this space without stifling it with overly burdensome rules or requirements that could limit its growth potential going forward.
