Sen. Elizabeth Warren calls crypto the ‘new shadow bank‘ By

United States Senator Elizabeth Warren, one of the most vocal cryptocurrency skeptics in the U.S. government, has called the cryptocurrency industry the “new shadow bank.”

In a Sept. 5 interview with the New York Times, Warren said that the cryptocurrency industry offers “many of the same services” as shadow banks, but still lacks “consumer protections or financial stability that back up the traditional system.”

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