Crypto skeptic U.S. Sen. Elizabeth Warren (D-Mass.) gave the Securities and Exchange Commission (SEC) until the end of this month to figure out its role in regulating cryptocurrencies.
- The senator, who chairs the Senate Banking Committee's Subcommittee on Economic Policy, said in a letter to SEC Chair Gary Gensler that she needs answers by July 28.
- Despite the rising popularity of crypto, a "lack of common-sense regulations has left ordinary investors at the mercy of manipulators and fraudsters,” Warren said.
- "The SEC must use its full authority to address these risks, and Congress must also step up to close these regulatory gaps," she added.
- She also voiced her concerns about the lack of regulatory clarity involving crypto and the energy usage of proof-of-work cryptocurrencies during a June subcommittee hearing.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.