Democrat Elizabeth Warren will serve her third senate term, beating John Deaton, a well-known crypto advocate. Warren, a progressive Democrat, was projected the winner by the Associated Press immediately after counting 50% of the total votes.

During the heated campaign, much of the debates and policy discussions revolved around cryptocurrency regulation, with Senator Warren promising stricter crypto regulations.

Republican Deaton, on the other hand, is a crypto industry lawyer and a well-known blockchain supporter. Warren’s win reinforces the growing call for cryptocurrency scrutiny under the industry’s Bank Secrecy Act (BSA) and the website’s Know Your Customer (KYC) protocol.

Source: The New York Times

Warren Expected To Push For More Crypto Scrutiny

This year’s US national and state elections highlight cryptocurrencies’ growing importance, use cases, and regulations. Warren, seeking her third Senate term, campaigned for stricter crypto regulations, particularly in implementing the KYC/BSA rules. On the other hand, Deaton entered the elections with the support of the big players in the crypto industry.

Throughout her senate stint, Warren has consistently flagged the crypto industry, warning about potential fraud. As such, she called for increased monitoring and regulation of the space.

BTCUSD trading at $73,416 on the daily chart: TradingView.com

Specifically, Warren supported the passage of the anti-money laundering bill, which aimed to strengthen the country’s bank secrecy laws and KYC ru

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Author: Christian Encila