Senator calls on the head of US Treasury to set control over crypto

by in Cryptocurrency News

Elizabeth Warren

Senator Elizabeth Warren is known for periodically demanding that the US government tighten control over the cryptocurrency industry. She recently called Bitcoin a "lousy investment" and called on the authorities to destroy the digital currency.

It became known this week that Elizabeth Warren has sent a letter to US Treasury Secretary Janet Yellen. It talks about the need to protect the financial system of the state.

The senator is confident that Bitcoin and other decentralized coins threaten the stability of the banking sector. Therefore, it is necessary to accelerate the implementation of the regulatory framework, with which supervisors can control all transactions with digital assets.

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The author of the letter emphasized: "The demand for cryptocurrencies is growing and these assets are increasingly being integrated into our financial system. Consumers, the environment, and our financial system face growing threats."

Warren recalled that digital currencies are used by criminal communities and hackers. Such instruments pose great risks for banks and hedge funds.

The solution to the problem will be the early implementation of regulatory legislation. The authorities will be able to establish tight control over the industry, the senator said.