"Warren and Trump Join Forces to Tackle Crypto Debanking"

US Senator Elizabeth Warren, known for her skepticism towards digital assets, has shifted her stance on crypto regulation. During a recent Senate hearing, she pledged to work with former President Donald Trump to address the issue of debanking in the crypto industry. This marks a notable departure from her previous positions on digital assets.

Warren's involvement follows the revelation of Federal Deposit Insurance Corporation (FDIC) documents that indicate crypto-related restrictions were implemented during the previous administration. The bipartisan approach to addressing crypto debanking suggests a potential shift in the regulatory landscape for crypto firms seeking banking services.

However, Warren's collaboration with Trump is not without controversy. She has previously criticized the SEC's approval of spot bitcoin ETFs and called for investigations into Trump's involvement in meme coins. These developments have raised ethical concerns regarding potential conflicts of interest.

The formation of a new "crypto task force" within the SEC and Trump's appointments of pro-crypto officials suggest that significant changes may be on the horizon. Yesterday, Coinbase urged US bank regulators to clarify crypto banking rules to prevent the debanking of crypto firms, while US regulators were alleged to have coordinated an effort to debank crypto firms, a tactic referred to as Operation Chokepoint 2.0.