Senator Warren Wants Crypto Investors to be Protected

Senator Warren Wants Crypto Investors to be Protected

Senator Warren who was part of the presidential race sometime ago has questioned the U.S. SEC about what it has in store to protect those that use crypto in the country. She is of the opinion that something more has to be done about crypto regulation in the U.S.

Reuters said that Warren sent a message to Gary Gensler, the one in charge of the U.S. SEC in search of his plans to add consumer protection to the rules in place.

Warren made clear her point in her letter such that a member of the Subcommittee on Economic Policy shared in her pain, which is the need to prevent scammers from taking advantage of the weakness in the system.

In the letter, Warren was specific in calling on the SEC chairman to reexamine the role of crypto exchanges in the commission’s effort to provide an investment environment that the people won’t regret joining.

Warren also said that the commission is inexcusable not to have provided protection for investors. Gensler is expected to reply the senator within the next three weeks.

Warren is quite known for not hiding her face when speaking against crypto. In one of his derogatory remarks, he referred to digital currencies as ‘bogus private money’ during one of her executive meetings.

As if that was not enough, she also tagged investing in crypto as a “lousy” thing to do.

Apart from Senator Warren, there are other important persons such as Janet Yellen of the U.S. Treasury Department who do not seem to like anything about cryptocurrencies.


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