Elizabeth Warren: crypto industry needs & # 39; traffic rules & # 39;”

US Senator Elizabeth Warren has once again turned to crypto, saying the industry must abide by “traffic rules.” 

“I don’t want to expect a lot of people, a lot of small investors, a lot of small traders to be completely wiped out, “Warren told CNBC today, adding that the” Code of conduct ” gives people confidence. 

Concerns about small investors don’t come as much of a surprise, judging from their previous efforts against the big banks. 

“Who uses the fact that there are no rules? These are the big boys. Who wins without the police? These are the big boys, ” Warren added.

Warren’s crypto problems
Warren’s concern is quite justified, given the enormous frequency with which so many in cryptography fall victim to massive losses due to ransomware, theft, fraud, and even pure coincidence.

But, to be clear, Warren’s fears don’t particularly belong to a cryptocurrency like Bitcoin, but rather to those who want to take advantage of the cryptocurrency in shady ways. 

“I’m concerned about snake oil sellers hiding everywhere when there’s no regulation,” Warren said. 

Warren is also concerned about the financial impact of cryptocurrency. 

Senator Warren: crypto puts financial system in the hands of “shadow Super-coders” ”
He believes it doesn’t matter where a person keeps their wealth. Crypto-like everything else-should not be tax-free. He said: “whatever way you own your wealth, I think it should be taxed every year.” 

More generally, Warren pointed to the potential benefits of the wealth tax in terms of government revenues. “Once you do that, you get more revenue in the system and you start balancing the tax burden,” he said. 

However, despite his concerns, Warren also added that digital currencies could respond to the big banks, which he said failed to reach consumers nationwide. 

This is not the first time Warren has targeted the crypto industry. Last month Warren named cryptocurrencies l

Join the Discussion

  • BrokerEUR/USD
    OANDA 1.3pips (variable) margin: 3.33%
    Core Spreads 0.6pips (variable) margin: 3.33%
  • Back to top