As President Biden prepares to release his latest budget proposal, a top economist will warn lawmakers that Republicans’ refusal to raise the nation’s borrowing cap could put millions out of work.
Monday, July 12, 2021
Massachusetts Democratic Senator Elizabeth Warren, who is also the chair of the Senate Banking Committee’s Subcommittee on Economic Policy, sent a letter on July 8, 2021 addressed to the Securities and Exchange Commission’s (“SEC”) Chairman Gary Gensler seeking clarification on the SEC’s authority to regulate cryptocurrency exchanges. Citing to SEC Chairman Gensler and Commodity Futures Trading Commission (“CFTC”) Commissioner Dan Berkowitz’s own words acknowledging the limited protections against fraud and market manipulation on cryptocurrency exchanges, Warren challenges the sufficiency of the current regulatory framework. In the letter, Warren acknowledges the growth of cryptocurrency exchanges and trading activity in recent years and raises concerns regarding the limited regulation of such exchanges despite the similarities they share with traditional national securities exchanges that are federally regulated. Warren con