US Senator Elizabeth Warren defended SEC Chair Gary Gensler, referring to the crypto industry’s fear of a strong SEC.
The scenarios experienced by cryptocurrencies have been bearish in parallel with the actors and events. Especially in the last year, there have been bankruptcies and collapses in many crypto projects. US Senator Warren noted that the Trump-era administration has turned a blind eye to a crypto market full of junk tokens and ponzi schemes. Warren stated that the crypto industry will fear a strong SEC.
US Senator: Supported SEC Chair
U.S. Senator Elizabeth Warren said that SEC Chair Gensler, which frightened the leaders of the crypto industry, cleared up the Trump-era situations. Warren, who supports Gensler, said;
“Looks like the commission is still increasing. This is why the industry fears a powerful SEC and spends millions of dollars each year lobbying to escape SEC oversight.”
In addition, Warren demanded that the SEC use all its regulatory powers to address crimes such as fraud and manipulation in the country. Warren believes a tough and strong SEC would be better.
The Senator urged US regulators to take more action against some of the big players in the cryptocurrency industry. According to Warren, this measure is about creating an environment of accountability.
Finally, the Senator stated that this is wrong, stating that the SEC is hesitant about the next move towards the crypto sector. Warren demanded that the SEC try harder.
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