US Senator Demands SEC To Protect Crypto Investors

Elizabeth Warren says the SEC should use all its powersto close gaps in the regulation of the digital asset market.

Democrat Senator from the American stateMassachusetts Elizabeth Warren sent a letter to the head of the US Securities and Exchange Commission (SEC) Gary Gensler, in which she urged the regulator to ensure consumer protection when investing in cryptocurrency. Also in the letter, Warren expressed concern about the lack of regulation of the crypto market, which is rapidly growing and developing.

“While the demand for cryptocurrencies andthe use of cryptocurrency exchanges has increased dramatically, the lack of sound rules has left ordinary investors at the mercy of manipulators and fraudsters, ”the senator said.

According to Warren, the SEC should use all its powers to close the gaps in the regulation of the digital asset market, and the US Congress should provide support to the regulator.

In June, Warren called cryptocurrencies a "lousy investment" compared to the stock market. In her opinion, digital assets help simplify illegal activities.

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