“Crypto doesn’t get a pass” This has been the talk of the town among the Exchange Commission and the U.S Securities. The issue raised is the matter of Crypto not being associated with and protected by the existing laws of consumerism. The article will cover all the solutions created by the commission of exchange, as evidenced by U.S. Senator Elizabeth Warren’s speech during the interview.
U.S. Senator Elizabeth Warren praised the chief secretary (Gary Gensler) and the exchange commission for their effort in policing the crypto industry. She also urged the state to give the spies who could assist in making the process rolling by issuing them with available resources.
During the interview, the senator added that Gensler (2021 SEC of the U.S Securities and Exchange Commission) had transformed the crypto industry by making it regulatory compliant after Donald Trump’s regulation team allowed the Crypto to explode.
The senator said Gensler has positively impacted the rise of crypto products in the market by protecting crypto investors and preventing “bitcoin exchange-traded funds from hitting the market.” She also praised the enforcement security for their successful process lead against Kim Kardashian, a celebrity crypto promoter.
Warren added that since the commission is in its early stages, there was a panic about having a strong SEC. She insisted that was why the commission had spent millions of dollars lobbying to get rid of SEC oversight.
She vividly communicated the collapse of the FTX crypto exchange in November 2022. It created a lot of tension in the industry that led to forming firm regulators, thus improving supervision. She called for the support of the law by Sam Bankman-Fried, the exchange founder.
The U.S. Senator came up with solutions to keep the crypto market burning. She said that congress needs to allocate available resources and create new authorities to keep rolling Crypto in the market. She also added that the SEC should use available tools to enforce the law. Security is also important; therefore, the SEC should have enough cops to enable him to carry out crypto-related projects.
U.S. Senator Elizabeth Warren’s speech has shown a positive vibe toward the growth of crypto products on the market. The leading solutions created by the exchange commission and the security is a turnaround to the crypto industry. In the interview, Warren insisted that Crypto not “getting a pass” could be a solution to avoid existing securities laws that maintain market integrity and protect investors.
Ken Emmanuel is a Blockchain Content writer, a Web3 Enthusiast and a Social Media Management Strategist, he likes writing educative contents to help people gain more knowledge and get inspired. The growth of any organization he work with is always his priority. He is a Geographer by profession and loves reading.