Massachusetts Senator Elizabeth Warren periodically appeals to the authorities of her country with a call to establish control over the digital currency market.
In an interview last Monday, she said that Congress and the SEC (Securities and Exchange Commission) should take the toughest possible stance on crypto regulation.
There is a need to strengthen control over the blockchain industry, as the recent problems of the BlockFi and Celsius platforms have once again highlighted the threats arising from the lack of a regulatory framework. The SEC has enough authority, and this regulator can bring order to the cryptosphere.
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The senator stressed: "I am sounding the alarm on cryptocurrencies and recommend that stricter rules be applied in this sector to ensure the protection of client funds." Many investors have become victims of unscrupulous companies, and this problem needs to be solved, politician believes.
In her opinion, special attention should be paid to the DeFi decentralized finance market. There are many scammers in this ecosystem, and novice crypto traders are not able to determine the reliability of any project.