United States Treasury Secretary and former Federal Reserve Chair Janet Yellen has reiterated that crypto needs more regulation.
that they have"identified a number of risks" relating to crypto, and would"like to work with Congress to see additional regulation pass."She added that she was very supportive of regulatory agencies using the tools they already have to protect investors.
Yellen's comments do not come as a surprise. Following the high-profile collapse of crypto exchange FTX, the U.S. Treasury Secretary that regulators should"rigorously" enforce existing rules and Congress should"move quickly" to fill regulatory gaps.lawsuits against both Binance and Coinbase for allegedly violating the country's securities laws.
© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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