- In a newly published letter, Elizabeth Warren has asked the SEC to provide answers on regulatory questions.
- Depending on the SEC’s answers, the regulator may be granted additional authority to close regulatory gaps.
- Warren also commented on cryptocurrency in June.
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U.S. Senator Elizabeth Warren has published a letter to the SEC, asking the regulatory body to confront the potential risks of cryptocurrency and answer questions about current regulation.
Regulations Are Needed, Warren Says
In a statement related to her letter, Warren noted: “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’s letter observes that, in a five-month period, 7,000 individuals reported a total of $80,000 in losses from crypto scams. That statistic was based on a report from…