(WWLP) – Senator Elizabeth Warren made national headlines with her comments about regulating cryptocurrencies.
“Invest at your own risk,” that’s the mindset Sen. Warren has on cryptocurrencies that have zero government regulation. Her comments spread some fear into the market leading to a further decline in prices for cryptos, like bitcoin. They’ve all taken a huge hit since China banned its people from trading and mining cryptocurrencies, other than their own.
Sen. Warren is among some leaders calling for the SEC to implement regulations to protect individual investors from cybercriminals, and market manipulators.
She said, “I’m very concerned about the wild west of crypto, right now. I’ve asked the SEC and the commodities trading regulations to get some basic rules of the road. I want everyone playing from a level field.”
Warren hopes to see rules get established with the crypto market, which has shown to be extremely volatile.
She did note that the demand and use of cryptos have skyrocketed. Trading volume on coin base the largest crypto exchange in the U.S. is 10 times now of what it was a year ago.
Warren is also urging Congress to close these regulatory gaps so that every investor has access to a safe cryptocurrency marketplace.