U.S. Senator Elizabeth Warren wrote to the Securities and Exchange Commission (SEC) chairman Gary Gensler this week to ask if the SEC had enough authority to properly regulate cryptocurrency exchanges.
Warren, who was recently named chair of the Senate’s Banking Subcommittee on Economic Policy, is an active advocate for consumer rights. Her letter said the current situation can’t go on: “As the cryptocurrency markets continue to grow and expand, the lack of regulation to provide basic investor protections is unsustainable.”
She raised a number of questions that get to the heart of the challenges involved in policing this sprawling industry. The SEC has until July 28 to respond.
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