Senator Elizabeth Warren Advocates for Cryptocurrency Regulations
In a recent interview on MSNBC, Senator Elizabeth Warren of Massachusetts voiced her support for the establishment of regulations governing the cryptocurrency sector. She emphasized that any regulatory framework should not be crafted by those within the industry itself, insisting that it should include measures to restrict elected officials from engaging in cryptocurrency trades.
Warren expressed concerns regarding the potential for cryptocurrencies to significantly disrupt the economy and argued for protective measures to be instituted.
Call for Stricter Regulations
Despite her critical stance towards cryptocurrencies, she pointed out that current regulations are insufficient, calling for more robust controls. Warren’s comments came as she reflected on her vote against the controversial GENIUS Act last June, highlighting her belief that there is a need for a stricter regulatory environment.
Industry Response
Justin Slaughter, the vice president of regulatory affairs at the crypto investment firm Paradigm, remarked on Senator Warren’s evolving position. He noted the positive development of her recognizing the necessity for regulatory measures, while also observing that during the discussion, she did not critique the substantial stablecoin legislation she had previously opposed.
Instead, her remarks were directed towards enhancements she wishes to see regarding the structures governing the market.
