Warren asks SEC to take closer look at cryptocurrency exchanges

Sen. Elizabeth Warren (D-Mass.) is asking the Securities and Exchange Commission (SEC) to assess the effect of cryptocurrency exchanges on U.S. financial markets and the risks they could pose to consumers.

In a letter released Thursday, Warren asked SEC Chairman Gary Gensler to explain if cryptocurrency exchanges operate in a safe and efficient way, and what regulatory action might be necessary to protect investors.

“While demand for cryptocurrencies and the use of cryptocurrency exchanges have skyrocketed, the lack of common-sense regulations has left ordinary investors at the mercy of manipulators and fraudsters,” she said.