Wall Street Banks Side With Nemesis Warren on Crypto Crackdown

Wall Street banks and Senator Elizabeth Warren have finally found something they can agree on: the need to crack down on crypto.

The Bank Policy Institute, a trade group for lenders that Warren often blasts, threw its weight behind bipartisan legislation that the Massachusetts Democrat and three of her Senate colleagues reintroduced this week. The bill aims to force the crypto industry to comply with tougher rules for combating money laundering and terrorism financing.

Senator Elizabeth Warren

Photographer: Al Drago/Bloomberg

“The existing anti-money laundering and Bank Secrecy Act framework must account for digital assets, and we look forward to engaging in this process ...