The Biden Administration has not made many public statements on the issue, but has quietly supported various actions that are not favorable to cryptocurrencies through the Department of Treasury and indirectly through the Securities and Exchange Commission. Senator Elizabeth Warren (D-Mass.), who is a close ally of SEC Chair Gary Gensler, is believed to have influenced the administration’s crypto policy, which has included aggressive enforcement actions against the industry without clear guidelines on dealing with digital assets in the U.S. So, for Schumer to prioritize attending the Crypto4Harris event and make a legislative commitment is significant, as President Biden would say, a big deal.
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