Sen. Elizabeth Warren, D-Mass., wants to push for tighter regulation in the crypto industry, according to an event hosted by the American Economic Liberties Project titled “Confronting the Crypto Challenge: Learning From a Meltdown.”
“The solution starts with the SEC,” Warren, D-Mass., said in her keynote. “The SEC has a long history of fighting what we are facing right now.”
“I will ban Crypto,” said panelist Hilary Allen, a law professor at American University who attended the event.
Participants in the event It also pushed for the introduction of a real-time payment system by the Federal Reserve, which has faced repeated delays. Such a system, if practical, would undermine the argument from the crypto industry that digital assets can increase the speed of transactions.
Saule Omarova, a Federal Reserve nominee and current Cornell law professor, said: The new initiative, known as FedNow, “will alleviate real market demand for faster payments. and will eliminate numerous demands for the use of all these cryptos in payment systems.”
Additionally, panelists agreed that they wanted FedNow to roll out sooner.
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