{"id":46787,"date":"2021-07-27T19:42:42","date_gmt":"2021-07-27T16:42:42","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=46787"},"modified":"2025-09-01T18:10:06","modified_gmt":"2025-09-01T15:10:06","slug":"senator-elizabeth-warren-urges-tougher-regulation-of-cryptocurrencies-in-the-united-states","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/senator-elizabeth-warren-urges-tougher-regulation-of-cryptocurrencies-in-the-united-states\/","title":{"rendered":"Senator Elizabeth Warren urges tougher regulation of cryptocurrencies in the United States"},"content":{"rendered":"<p>Democratic Senator Elizabeth Warren <a href=\"https:\/\/www.warren.senate.gov\/imo\/media\/doc\/FSOC%20Crypto%20Letter%2007.26.2021.pdf\">called for<\/a> U.S. Treasury Secretary Janet Yellen to lead the development of \u201ca coordinated and consistent regulatory strategy to reduce the growing risks that cryptocurrencies pose to the financial system.\u201d<\/p>\n<p><!--more--><\/p>\n<p>In a July 26 letter, the senator urges the secretary to use the powers of the chair of the Financial Stability Oversight Council to take immediate action to reduce the risks associated with cryptocurrencies.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cI am increasingly concerned about the threats that cryptocurrencies pose to investors, consumers and the environment in the absence of adequate regulation in the United States. Yet demand for cryptocurrencies continues to grow. These assets are becoming more deeply embedded in our financial system,\u201d the letter says.<\/p>\n<\/blockquote>\n<p>In Warren&#8217;s view, the Council should identify potential systemic risks \u201cthat go beyond investor and consumer protection.\u201d<\/p>\n<p>Last month the senator <a href=\"https:\/\/www.banking.senate.gov\/hearings\/building-a-stronger-financial-system-opportunities-of-a-central-bank-digital-currency\">criticised<\/a> cryptocurrency networks for their high energy consumption, calling for tighter federal regulation.<\/p>\n<p>The Financial Stability Oversight Council was created in 2010. In addition to the secretary of the treasury, it includes the heads of <span data-descr=\"Federal Reserve System\" class=\"old_tooltip\">Fed<\/span>, <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span>, <span data-descr=\"Commodity Futures Trading Commission\" class=\"old_tooltip\">CFTC<\/span> and other agencies.<\/p>\n<p>Recall, recently Janet Yellen <a href=\"https:\/\/u1f987.com\/en\/news\/us-treasury-secretary-janet-yellen-urges-swift-stablecoin-regulation\">urged<\/a> the rapid development of a regulatory framework for regulating stablecoins.<\/p>\n<p style=\" margin: 12px auto 6px auto; font-family: Helvetica,Arial,Sans-serif; font-style: normal; font-variant: normal; font-weight: normal; font-size: 14px; line-height: normal; font-size-adjust: none; font-stretch: normal; -x-system-font: none; display: block;\">   <a title=\"View FSOC Crypto Letter 07.26.2021 on Scribd\" href=\"https:\/\/www.scribd.com\/document\/517558202\/FSOC-Crypto-Letter-07-26-2021#from_embed\" style=\"text-decoration: underline;\">FSOC Crypto Letter 07.26.2021<\/a> by <a title=\"View ForkLog's profile on Scribd\" href=\"https:\/\/www.scribd.com\/user\/456422024\/ForkLog#from_embed\" style=\"text-decoration: underline;\">ForkLog<\/a> on Scribd<\/p>\n<p><iframe loading=\"lazy\" class=\"scribd_iframe_embed\" title=\"FSOC Crypto Letter 07.26.2021\" src=\"https:\/\/www.scribd.com\/embeds\/517558202\/content?start_page=1&#038;view_mode=scroll&#038;access_key=key-ZwAe0ukCNy1SIWlCz5LA\" data-auto-height=\"false\" data-aspect-ratio=\"0.7729220222793488\" scrolling=\"no\" id=\"doc_31042\" width=\"100%\" height=\"600\" frameborder=\"0\"><\/iframe><\/p>\n<p>Subscribe to ForkLog&#8217;s channel on YouTube!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Democratic Senator Elizabeth Warren urged US Treasury Secretary Janet Yellen to tighten cryptocurrency regulation.<\/p>\n","protected":false},"author":1,"featured_media":46788,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[2085,36,26],"class_list":["post-46787","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-janet-yellen","tag-regulation","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"28","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46787","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=46787"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46787\/revisions"}],"predecessor-version":[{"id":46789,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/46787\/revisions\/46789"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/46788"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=46787"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=46787"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=46787"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}