Sen. Brown Urges Regulators to Increase Crypto Market Transparency, Citing Need to Protect Investors

U.S. Sen. Sherrod Brown urged regulators to use existing powers to improve crypto market transparency and protect investors.
Brown sent a letter to Treasury, SEC, and CFTC heads asking them to address dangers in the crypto industry.
Brown said the crypto industry won't police itself and opaque disclosures help insiders profit.
Brown praised the SEC's crypto enforcement crackdown earlier this week.
Brown said Congress can work to provide Americans with the information they need about crypto.

coindesk.com

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9/12/2023

Crypto Regulation Hangs in Balance as Senator Brown Remains Wary of Industry Fraud and Misconduct

Senator Sherrod Brown has expressed a negative view of the crypto industry, stating that it is rife with fraud and abuse, making his support crucial for any future crypto legislation in the US. Securities and Exchange Commission Chair Gary Gensler has also criticized the sector, but Brown's stance is seen as pivotal for the industry's regulatory framework.