CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$23,275.00
  • ethereum
    ETH$1,680.88
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    • Opinions
    CryptoPotato
    CryptoPotato
    • Crypto News
    • Margin Trading
    • Guides
      • Bitcoin & Crypto Guides 101
      • Bitcoin For Beginners
      • Editorials
    • DeFi & NFT
    • Buy
    • Language
    • Crypto News
    • Bitcoin For Beginners
    • Cryptocurrency Guides 101
    • Editorials
    • Bitcoin & Crypto Margin Trading
    • DeFi & NFT News
    • Bitcoin Price Analysis
    • CryptoPotato Crypto Fund
    • Ethereum (ETH) Price Analysis
    • Ripple (XRP) Price Analysis
    • Market Updates
    • Interviews
    • Buy Bitcoin with Card
    Home » Crypto News » Senator Warren: The SEC Needs to Regulate the Volatile Crypto Markets

    Senator Warren: The SEC Needs to Regulate the Volatile Crypto Markets

    Author: Jordan Lyanchev

    Last Updated Jul 8, 2021 @ 18:48

    After admitting that US investors’ appetite towards crypto has surged lately, Senator Warren urged the SEC to regulate the ‘opaque and volatile’ market.

    Democrat Senator Elizabeth Warren continues to bash the cryptocurrency space by calling the market “highly opaque and volatile.” Nevertheless, she believes the US watchdog – the SEC – needs to step up and implement a proper regulatory framework to enhance investors’ safety amid their growing demand.

    Surging Demand for the Opaque Crypto Market

    It’s not uncommon for those in power to lash out against the decentralized and unregulated nature of the cryptocurrency market. Elizabeth Warren, a 72-year-old former law professor, currently serving as the senior US Senator from Massachusetts, is not an exception.

    Earlier in June, she called crypto a “lousy investment” compared to the stock market, even though BTC has continued to outperform the S&P 500 and other popular indexes year after year.

    Furthermore, she broached the role that digital assets play in illegal activities like ransomware and hacks as they are the preferred payment method. More recently, she outlined the risks related to the market once more, as this time she referred to it as “highly opaque and volatile.”

    However, she admitted that investors had been increasingly more interested in allocating funds in bitcoin or other virtual currencies, especially in the past year or so. As such, she believes watchdogs have to step up to make sure this demand goes to a well-regulated financial market.

    ADVERTISEMENT
    Sen. Elizabeth Warren. Source: Politico
    Sen. Elizabeth Warren. Source: Politico

    The SEC Should Regulate Crypto

    “While the demand for cryptocurrencies and the use of cryptocurrency exchanges have skyrocketed, the lack of common-sense regulations has left ordinary investors at the mercy of manipulators and fraudsters.” – the US Senator asserted.

    She indicated that these “regulatory gaps” have endangered investors and “undermined” the safety of the financial markets. Consequently, she urged the Securities and Exchange Commission to “use its full authority to address these risks.” Additionally, she believes Congress has the responsibility to “close these regulatory gaps.”

    According to data shared by Senator Warren, roughly 7,000 people have filed complaints indicating that they have lost over $80 million from various cryptocurrency scams in the six months until March 2021.

    SPECIAL OFFER (Sponsored)
    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

    You Might Also Like:

    • Lawsuit
      House of Representatives Passes Bill to Create a SEC-CFTC Crypto Taskforce
    • JessePowell
      Kraken's CEO Warns of Potential Crypto Regulations in the United States
    • institutions_cover
      Biden Administration Reportedly in Early Stages of Readying Regulation for Bitcoin
    Tags: Regulations SEC United States
    Enjoy reading? Share with your friends
    Facebook Twitter LinkedIn Telegram

    About The Author

    Jordan Lyanchev
    More posts by this author

    Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn

  • bitcoin
    BTC$23,275.00
  • ethereum
    ETH$1,680.88
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    Editorials
    Why ZK-Rollups Are the Future of Ethereum Scaling: Interview with StarkWare PM Gal Ron

    Why ZK-Rollups Are the Future of Ethereum Scaling: Interview with StarkWare PM Gal Ron

    2022 Was Crypto’s Dot Com Bust: Let’s Recap Tech Stocks After 2000 (Opinion)

    2022 Was Crypto’s Dot Com Bust: Let’s Recap Tech Stocks After 2000 (Opinion)

    How Long Will the Ethereum LSD Narrative Last? Talking 2023 Trends with Nansen’s Martin Lee

    How Long Will the Ethereum LSD Narrative Last? Talking 2023 Trends with Nansen’s Martin Lee

    Everything That’s Going on With Pi Network: From Start to Latest Controversial Listing

    Everything That’s Going on With Pi Network: From Start to Latest Controversial Listing

    What is Ethereum Liquid Staking and Why It Is Crucial As Shanghai Upgrade Approaches?

    What is Ethereum Liquid Staking and Why It Is Crucial As Shanghai Upgrade Approaches?

    The Lesson in Alameda-FTX About Government Regulation and Crypto (Opinion)

    The Lesson in Alameda-FTX About Government Regulation and Crypto (Opinion)

    5 Bullish and 2 Bearish Cases for DeFi Going Into 2023 (Opinion)

    5 Bullish and 2 Bearish Cases for DeFi Going Into 2023 (Opinion)

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    Footer Logo
    About
    Advertise on CryptoPotato
    About Us | Contact Us | Careers
    Editorial Policy
    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!