-
SEC Chair Gary Gensler tells Sen. Elizabeth Warren that the SEC needs more regulatory authority over crypto
Sen. Elizabeth Warren is keeping up the pressure to rein in cryptocurrency exchanges. On Wednesday she released the letter Securities and Exchange Commission Chair Gary Gensler wrote in response to her July 7 inquiry that he address the highly opaque and volatile cryptocurrency market and determine if Congress needs to act. “Right now, I believe investors using these platforms are not adequately protected,” Gensler said in his response to the Massachusetts Democrat, dated Thursday. The letter echoes Gensler’s comments made to the Aspen Security Forum two days earlier, where he called the asset class “rife ... (full story)
-
Dear Senator Warren:
Thank you for your July 7, 2021, letter regarding the sufficiency of the Securities and Exchange Commission’s authority to regulate crypto platforms. I appreciate and share your interest in ensuring investors are protected on these platforms. I recently spoke about these issues publicly.1 Right now, I believe investors using these platforms are not adequately protected. The world of crypto finance now has platforms where people can trade tokens and other venues where people can lend tokens. The American public is buying, selling, and lending crypto on these venues, both centralized and decentralized finance ... (full story)
-
SEC’s Gensler Told Elizabeth Warren He Needs More Authority to Regulate Crypto
Securities and Exchange Commission (SEC) Chairman Gary Gensler wants his agency to have greater authority and resources to crack down on the crypto sector. In a letter to U.S. Senator Elizabeth Warren, Gensler said Congress should grant the agency with additional oversight and enforcement abilities to monitor “transactions, products and platforms” in the U.S. crypto sector. “In my view, the legislative priority should center on crypto trading, lending and DeFi platforms. Regulators would benefit from additional plenary authority to write rules for and attach guardrails to crypto trading and lending,” he said. ... (full story)
Low Impact
Breaking