Ripple’s Legal Chief Slams Elizabeth Warren for Blocking Stablecoin Bill

Ripple's chief legal officer Stuart Alderoty has sharply criticized Senator Elizabeth Warren for opposing the GENIUS Act, a proposed stablecoin regulation bill. In a recent statement, Alderoty accused Warren of waging an “all-consuming war on crypto,” claiming her opposition undermines efforts to protect stablecoin users through regulatory clarity.

Senator Warren, a prominent progressive and vocal crypto critic, argues the GENIUS Act would “greenlight the grift,” claiming the bill would enable corruption rather than prevent it. Her stance has reignited tensions between lawmakers over how to regulate digital assets like stablecoins.

The GENIUS Act, backed by Republican lawmakers, aims to create a comprehensive framework for stablecoin oversight, including consumer protection mechanisms. However, despite initial bipartisan momentum, Democratic support is weakening. According to reports, several pro-crypto Democrats have begun reversing their positions, influenced by growing pressure from anti-crypto voices within their party.

Senate Minority Leader Chuck Schumer has also expressed concerns about the bill’s treatment of Tether, the largest stablecoin issuer, and the broader implications of allowing foreign-issued stablecoins to operate freely in U.S. markets. Warren previously attempted to introduce amendments that would have restricted such access, but they were rejected.

Warren first voiced her disapproval of stablecoin legislation in August, warning that integrating these digital assets into the traditional banking system without stronger safeguards could amplify financial risks.

With Republicans aiming to bring the bill to a full Senate vote before Memorial Day, it remains uncertain whether they can gather the 60 votes needed to bypass a filibuster. The outcome of the GENIUS Act now hinges on shifting Democratic support and rising divisions within the party on crypto regulation.