After the collapse of FTX, there were rumors that Gary Gensler held meetings with SBF. The chairman of the SEC was then strongly criticized. Some have criticized him for letting Bankman-Fried do it and for not being vigilant to avoid this spectacular fall. But for Sen. Elizabeth Warren, there’s no reason to criticize Gensler. On the contrary, it is to be congratulated!
Elizabeth Warren praises regulator chairman
During a recent interview with the American Economic Liberties Project, Senator Elizabeth Warren praised Gary Gensler. She suggested that he has done his job well since becoming SEC chairman. She argued that Gensler succeeded in “bring the crypto ecosystem to regulatory compliance“. The lawmaker also pointed out that former President Donald Trump’s regulators, on the other hand, let the crypto boom.
The US senator mostly praised the SEC itself. She indicated that the securities regulator in the United States worked to protect investors from crypto. She praised the efforts the SEC has made to prevent Bitcoin ETFs from entering the market. “More importantly, it looks like the commission continues to ramp up. This is why the industry is afraid of a strong SEC», added Senator Warren.
The senator attacks the crypto lobby
In the interview with the American Economic Liberties Project, the US senator strongly criticized the crypto lobby. She said: “Crooked Crypto Actors Are Lobbying Intensely In Washington“. She clarified that the crypto industry “spends millions of dollars each year lobbying to evade SEC scrutiny“.
Also, Elizabeth Warren calls on all US regulators to collaborate for effective oversight of the many facets of the crypto industry. She pointed out that special attention should be paid to the environmental impact related to crypto mining.
Senator Elizabeth Warren has suggested that the SEC must stand firm in giving crypto no passes. According to her, the latter must not succeed in avoiding the long-standing securities laws. After all, these laws protect investors and ensure market integrity. Finally, the senator calls on legislators to provide the SEC with the resources and powers necessary to accomplish its mission.
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