Senator Elizabeth Warren Compares Cryptocurrencies to the US Mortgage Crisis

US Senate Banking Committee member Elizabeth Warren has compared the digital asset market to the 2008 economic crisis in an interview with NBC. She has explained:

“The whole digital world is like a bubble. What is the basis of his growth? People tell each other that everything will be fine, as it was with the real estate market.”

She has also suggested that the Fed speed up the development of the digital dollar. Warren believes that CBDCs will help central banks improve the situation in the digital segment of the financial market.

The senator added that sooner or later Bitcoin will be regulated by the authorities. She did not specify how the government plans to achieve such control.

In March, Warren introduced a bill allowing the US Treasury to block transactions of crypto exchanges with addresses of individuals on the sanctions lists. The initiative was criticized in the crypto community.