Warren called the current rules weak and formed under the pressure of the crypto industry participants. The senator claims that these rules are not able to fully protect consumers of services and prevent possible offenses. Therefore, Warren called for banning officials, in particular to President Donald Trump, to own and trade cryptocurrencies.
“We need to fully regulate cryptocurrencies, and not indulge the industry, so as not to jeopardize our economy and not contribute to the corruption of President Trump. It is necessary to introduce restrictions in order to restrain the use of cryptocurrencies with terrorists and drug dealers, ”Warren explained.
Warren’s performance occurred a few weeks after the Congress adopted three cryptocurrency bills: the Genius Law on the regulation of the production and turnover of stabilcoins, the Clarity law on the transparency of the digital assets market and the law prohibiting the launch of digital currencies of central banks (CBDC).
Former adviser to the US Securities and Exchange Commission (SEC) and the head of the Paradigm regulatory requirements, Justin Slaughter, noticed changes in Warren’s position. Previously, she urged the authorities to completely ban cryptocurrencies, and now recognizes the need to create legislation on cryptocurrencies, while insisting on more stringent measures of supervision, said Paradigm employee.
Recently, Warren, together with a group of democrats, sent a letter to the head of the monetary control control department (OCC) Jonathan Gould, expressing fears that Trump’s cryptocurrency projects can be left without financial supervision.
Source: Bits

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