Warren reminds us all that she thinks she, not we, should control our finances

Source: Reuters

“U.S. Senator Elizabeth Warren on Thursday warned of the growing risks posed to consumers and financial markets by the ‘highly opaque and volatile’ cryptocurrency market and blasted its lack of regulation as unsustainable. Warren, a Democrat who chairs the Senate Banking Committee’s Subcommittee on Economic Policy, also raised her concerns in a letter to Securities and Exchange Commission (SEC) Chair Gary Gensler on Wednesday, in an effort that could help lay the groundwork for legislation to regulate the fast-growing market. The former presidential candidate said she needed answers from Gensler by July 28 on the SEC’s authority to protect consumers investing and trading in cryptocurrencies, and determine what future congressional action was needed. Cryptocurrencies reached a record capitalization of $2 trillion in April, but U.S. oversight of the market remains patchy.” (07/08/21)