US senator Sherrod Brown called on the country’s leading regulators to increase transparency and investor safety in the cryptocurrency market.
US Senate Banking Committee Chairman Sherrod Brown Thursday, September 14 In a letter he wrote on the day, cryptocurrency future Secretary of the Treasury who holds Janet YellenChairman of the Securities and Exchange Commission (SEC) Gary Gensler and Chairman of the Commodity Futures Trading Commission (CFTC) Rostin BehnamHe called out. Brown urges federal agencies to crack down on malevolent actors in the cryptocurrency industry effectively use its existing powers He requested that they use it.
The senator, who did not hesitate to express his concerns about the ongoing cryptocurrency legislation in Congress, argued that the proposed regulation should be improved. Brown also noted that regulatory bodies to help protect investors in crypto markets Studies to increase transparency He emphasized that it should be carried out.
In the letter sent by the senator to the institutions, it is stated that the current problems regarding the cryptocurrency sector by correctly detecting It was stated that a solution should be found with effective practices:
While reviewing the cryptocurrency legislation circulating in Congress, I saw that your institutions need to evaluate their authority. At this point, I think lawmakers should identify the deficiencies in cryptocurrencies and cryptocurrency platforms, evaluate them effectively and take appropriate steps. Congress should be able to bring together additional tools to provide the American people with the information they need. Finally, I encourage you to use existing tools to strengthen transparency and hold bad actors accountable.
Brown also said that instead of approving or enacting a law Necessary information for US citizens He emphasized that it should be provided clearly.
SEC Chairman Gary Gensler recently made intense criticism while targeting cryptocurrencies again. The President also stated that there was no need for new rules or legislation.