Internet reports, Decrypt reports that U.S. Senator Elizabeth Warren has criticized the lobbying activities of the cryptocurrency industry and compared it to legislation on the eve of the financial crisis in 2008. U.S. Senator Warren acknowledged the need for cryptocurrency legislation, but also criticized the industry's impact on U.S. politics. It claims that the Genius Act is an example of the cryptocurrency industry's "own legislation." She compared it to another bill, the Commodity Futures Modernization Act of 2000, which may have indirectly influenced the 2008 financial crisis.