Senator Warren: The lobbying activities of the cryptocurrency industry have a negative impact on politics

According to Decrypt, US Senator Elizabeth Warren criticized lobbying activities in the cryptocurrency industry and compared it to legislation before the 2008 financial crisis. US Senator Warren acknowledges the necessity of cryptocurrency legislation, but also criticizes the industry's impact on US politics. It claims that the Genius Act is an example of the cryptocurrency industry "enacting its own legislation". She compared it to another bill, the 2000 Commodity Futures Modernization Act, which may have indirectly influenced the 2008 financial crisis.