Sean Ono Lennon, the youngest son of legendary musician John Lennon, spoke out against the recent anti-crypto bill proposed by Senator Elizabeth Warren. The US bill is known as the ‘Digital Asset Anti-Money Laundering Act’ and has sparked heated debate on social media.
Commenting on a video by Dennis Porter, co-founder and CEO of the Satoshi Action Fund, Lennon expressed his dismay at the lawmakers’ approach.
The video in question shows the bill’s co-author, Senator Roger Marshall, admitting that he and Warren sought help from the American Bank Association to draft legislation against cryptocurrencies and acknowledged their lack of knowledge on the subject.
Lennon criticized the intelligence of lawmakers, insinuating that some have an IQ of less than 90, and emphasized that cryptocurrencies are seen as the enemy of traditional banks, mainly due to lower transaction fees, greater transaction speed and control over the funds by the users themselves.
“How can these clowns with an IQ of 90 write such bills, wtf?” — said Lennon.
How can these 90 IQ clowns write bills like wtf? https://t.co/OKgmxhhKQn
— Seán Ono Lennon (@seanolennon) December 20, 2023
John Lennon’s son invests in cryptocurrencies
Lennon, who has become increasingly interested in cryptocurrencies, highlighted Bitcoin’s advantages over traditional currencies and other financial assets. He got involved with the Friend Tech project and has been a Bitcoin supporter since 2020.
The singer stated that Bitcoin is helping people in ways they have never seen before. In a conversation with Max Keizer, Lennon said that digital currency is a “a touch of optimism in a destructive year”.
David Schwartz, chief technology officer at Ripple Labs, on the other hand, expressed partial support for Warren’s proposal. In a recent tweet, Schwartz suggested that Warren may have a valid point with her Anti-Money Laundering Act, part of cryptocurrency regulation in the US.
Warren believes that without adequate oversight, cryptocurrencies could threaten the U.S. economy. She recognizes the potential of cryptocurrencies for financial inclusion for the unbanked, but sees Bitcoin and other cryptocurrencies as tools for money laundering, tax evasion and other criminal activities.
His statements, including the claim that North Korea is using cryptocurrencies to finance half of its nuclear program, sparked sarcastic reactions in the community.
Warren’s proposal and the divided opinions in the cryptocurrency industry highlight the ongoing debate over regulation and the future impact of cryptocurrencies on the global economy.
Source: Live Coins

Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.