For Elizabeth Warren, the FTX event provided an opportunity to set the stage for the next two years of crypto regulation. “We must be vigilant,” Warren said.
“We must anticipate the next crash and be prepared to act quickly.” She pointed to the upcoming Financial Services Regulatory Improvement Act, which her office is developing with a group of progressive lawmakers, as a way to ensure that the SEC has the authority and resources necessary to properly regulate the crypto industry.
“We have to make sure that the SEC has the authority to set rules and enforce them,” Warren said. “We have to make sure that the SEC has the resources to actually monitor the markets and take action when necessary.”
The event overall highlighted the need for stronger crypto regulations and oversight. While the SEC has made some progress in regulating the industry, the event highlighted the need for more comprehensive action to ensure the safety of investors and the stability of the industry.
It’s clear that Congress and the SEC will need to act together if the crypto industry is to move forward in a safe and responsible way.