I wanted to send a message’: Democrats break with Warren, Biden on crypto

A sudden Capitol Hill momentum boost for the digital currency industry has come from a surprising source: Democrats. Sen. Elizabeth Warren’s anti-cryptocurrency crusade is facing pressure from her own party. Dozens of Democrats, including Senate Majority Leader Chuck Schumer, have broken with her in recent days and supported an effort to undo SEC guidelines that critics say discourage banks from holding digital assets. The Democrats defied not only Warren, but also President Joe Biden, who is threatening to veto the rollback. The rift may grow further next week when the House takes up sweeping, industry-backed legislation to incorporate crypto trading into federal financial regulations.