US senator Elizabeth Warrenwants the Securities Exchange Commission (SEC) to “increase” its crypto enforcement efforts. The Senator emphasized that the cryptocurrency industry is “feared” for what comes next.
Warren’s comment during an interview with American Economic Freedoms Projects on Jan. came.
Senator, Gary GenslerHe said the SEC has “got off to a good start” in resolving some of the problems that have arisen under the Trump administration, since he became SEC chairman in April 2021.
Warren said that the previous SEC administration was “filled with bounty tokens, unregistered securities, rug-pull, pyramid schemes, pumping and dumps, money laundering, and escapes from sanctions.” cryptocurrency claimed to allow the market.
But Warren thinks industry leaders are frightened under Gensler’s leadership.
“The commission is still working. That’s why the industry fears a strong SEC. That’s why they lobby millions of dollars each year to evade SEC scrutiny.”
The senator, known for his anti-crypto views, thinks the industry is hurting retail investors. Exchanges, traders, and well-known names are part of this deceptive scheme, according to the senator.
Elizabeth Warren urged all authorities to do their best to stop fraudulent activities against US customers.
1:30PM: We’ll kick off an event with @RealBankReform and @SenWarren to examine the rise and fall of the crypto industry — and what it means for policymakers.
RSVP here. You won’t want to miss it.https://t.co/nj8xsJbPur pic.twitter.com/A1saROKeZU
— American Economic Liberties Project (@econliberties) January 25, 2023
You can follow the current price movements here.