Sen. Elizabeth Warren on Tuesday urged Treasury Secretary Janet Yellen to make crypto markets safer.
"Cryptocurrencies and other digital assets do pose significant risks currently, and the risks they pose increase as they permeate the traditional financial system and more and more people invest," Walch told lawmakers in written testimony. Her Twitter biography advises readers to "own no crypto."
Warren's letter is the latest in a recent string of calls from Capitol Hill for stricter market regulation. Perhaps the most high-profile example came in February, when lawmakers on both sides of the political aisle peppered executives from brokerage Robinhood, social media website Reddit, market maker Citadel and video-game retailer GameStopRegulating crypto markets has proven trickier task, however, given both the sheer number of different assets as well as the novelty of the technology behind digital currencies.
The Council's job is to identify risks to the financial industry and coordinate a regulatory response across Cabinet departments and other agencies, since no single regulator is responsible for monitoring and addressing overall risks to financial stability. The SEC, under the new leadership of Chair Gary Gensler, is currently weighing whether to approve exchange-traded
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