Today, US Senator Elizabeth Warren again warned of the growing risks posed to consumers and financial markets by the “opaque and highly volatile” cryptocurrency market and found its lack of regulation “unsustainable”. The former presidential candidate said she needed answers from Gary Gensler, chairman of the Securities and Exchange Commission (SEC), by July 28 on the SEC’s authority to protect consumers investing in cryptocurrencies and to determine what future action Congress will be needed.
“While cryptocurrency demand and trading has skyrocketed, the lack of common sense rules has left ordinary investors at the mercy of manipulators and scammers,” Warren said in a statement. These regulatory gaps endanger consumers and investors and undermine the safety of our financial markets. The SEC must use its full authority to address these risks and Congress must also step in to fill these regulatory gaps. “
Today, meanwhile, cryptocurrencies are following the general sell-off of the markets with -5% to $ 32,700 for Bitcoin, -8.4% for Ethereum to $ 2,150 and -9% for Dogecoin.