Elizabeth Warren calls for equal opportunities in the crypto industry and challenges posed by Big Tech AI.

United States Senator Elizabeth Warren has called for equal opportunities in the cryptocurrency industry and restrictions on Big Tech’s development of artificial intelligence (AI) models. In a recent interview with Bloomberg Television, Warren reiterated her stance on crypto and expressed her desire to collaborate with the industry. She emphasized the need for a level playing field in the financial system and criticized the industry’s claim that crime is necessary for its survival, citing ransomware scammers, drug and human traffickers, and terrorists as examples. Warren’s proposed legislation, the Digital Asset Anti-Money Laundering Act, aims to regulate decentralized technologies like blockchain nodes, validators, noncustodial wallets, and software providers as financial institutions. However, the bill has faced backlash from crypto industry executives, organizations, and associations who argue that it is unsuitable for the technology and will hinder innovation and investment. The U.S. Treasury Department has even admitted that claims of crypto usage for terrorism were exaggerated. In addition to her concerns about the cryptocurrency industry, Warren has also expressed her desire to prevent major tech players such as Microsoft, Google, and Amazon from dominating the field of AI language models. She believes that these companies, with their vast resources and infrastructure, could stifle competition and hinder the growth of smaller competitors. Warren sees this as another aspect of her ongoing campaign against Big Tech’s market power and concentration in the industry. The fear and uncertainty surrounding cryptocurrencies among lawmakers have been instrumental in driving proposed regulations in the United States.