Elizabeth Warren Calls on SEC to Determine its Role in Crypto Regulation by July 28

With volatility across crypto markets continuously surging, lawmakers from Washington and other regulatory bodies continue to call for the establishment of new laws that would regulate virtual currency trading. The latest call comes from Democrat senator Elizabeth Warren, who has recently penned a letter to SEC Chairman Gary Gensler, demanding that the SEC determines its role in the regulation of cryptocurrencies— by the end of the month.

In the letter seen by Retuers dated July 7, Warren highlighted some of the growing risks consumers and financial markets face as the crypto market continues to expand, adding that the SEC’s current lack of robust regulatory measures are unsustainable. Warren, who also chairs the Subcommittee on Economic Policy of the Senate Banking Committee, urged Gensler to provide a concrete set of answers to her concerns by July 28, particularly on how the SEC plans to protect consumers investing and trading virtual currencies.

“While demand for cryptocurrencies and the use of cryptocurrency exchanges have sky-rocketed, the lack of common-sense regulations has left ordinary investors at the mercy of manipulators and fraudsters,” Warren said. “These regulatory gaps endanger consumers and investors and undermine the safety of our financial markets. The SEC must use its full authority to address these risks, and Congress must also step up to close these regulatory gaps.”


Information for this briefing was found via Reuters. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Why $50 Silver, $4000 Gold Might Be Closer Than Anyone Thinks | Bradley Langille – GoGold Resources

Why Silver’s True Price Could Be Much Higher | Joaquín Marias – Argenta Silver

Gold Enters A ‘Stronger For Longer’ Phase | Richard Young – i-80 Gold

Recommended

Emerita Resources Intersects Further Mineralization At El Cura, Expanding Deposit

ESGold Sees ANT Survey Reveal Vertically Continuous System To 1,200 Metres Depth

Related News

Mazars Removed Binance “Audit” Results From Website, Paused Work For Crypto Clients

Auditing firm Mazars seems to have deleted the page from its website that displayed the...

Friday, December 16, 2022, 11:00:00 AM

SEC Files Fraud Charges Against A US$300 Million Crypto Pyramid Scheme… But Firm Doesn’t Seem To Mind

Part of the Securities and Exchange Commission’s (SEC) crackdown on questionable crypto firms, the regulatory...

Tuesday, August 2, 2022, 10:42:00 AM

New SEC Lawsuit Claims Elon Musk Delayed Twitter Stake Disclosure, Saving Millions

A new lawsuit filed by the U.S. Securities and Exchange Commission against Elon Musk, the...

Wednesday, January 15, 2025, 02:12:00 PM

AT&T Pays Record Amount To Settle SEC Charges

The Securities and Exchange Commission (SEC) on Monday announced that AT&T (NYSE: T) has settled...

Thursday, December 8, 2022, 06:29:02 AM

Traders Using Private Messaging Apps Could Now Cost Big Banks Almost US$1 Billion Settlement

The giants of the banking institutions are expected to settle with the US Securities and...

Tuesday, August 23, 2022, 11:08:00 AM