Senator Warren raised pancake swap concerns in the market structure delay.
US Senator Elizabeth Warren, one of the most outspoken voices on digital assets in Congress, is demanding answers from Justice Department and Treasury officials about possible investigations into decentralized crypto exchanges, citing concerns over PancakeSwap and Uniswap.
In a Monday letter to Treasury Secretary Scott Besant and US Attorney General Pam Bondi, Warren asked whether their respective departments are “investigating the serious national security risks posed by decentralized cryptocurrency exchanges like PancakeSwap.”
The senator from Massachusetts raised the threat of “improper political influence” from the Trump administration regarding crypto companies and reports of money laundering linked to North Korea, asking for a response on 12. January.
“As Congress handles crypto market structure legislation — including laws that prevent terrorists, criminals and rogue states from exploiting decentralized finance (DeFi) — it's important to understand that you're taking these risks seriously,” Warren wrote for Bessant & Bondi.
“The public needs to know that they are investigating the serious threats identified by national security experts and the crypto industry itself.”
Warren's letter comes as the US Senate prepares to adjourn before the chamber adjourns for the holidays. Some Republicans on the Banking Committee had expected to tackle the digital marketplace framework bill, known as the Responsible Financial Innovation Act, before the end of the year. However, Chairman Tim Scott has confirmed that a markup hearing on the bill has been pushed back to 2026.
Related: Top US Democrat signs fight over crypto market structure
Pancake Swap, a Massachusetts senator, raised concerns over a report that “interest is swirling among traders to use coins issued by the Trump family's main crypto company, World Liberty Financial.”
Some Senate Democrats have raised concerns about the US president's potential influence and potential conflicts of interest over the legislation, given his and his family's ties to the crypto industry.
The XRP advocate who challenged Warren will run again in 2024
In the year Attorney John Deaton, who is running against Warren in the 2024 US election, is making another request to Congress. Deaton has emerged as a prominent figure in the cryptocurrency industry over the past few years, and has been a lawyer for XRP (XRP) holders in court.
In the year In November, he announced that he would run for the US Senate in 2026 as a Republican. Warren isn't up for reelection next year, so Dayton will try to unseat Democratic Sen. Ed Markey.
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