Crypto Is ‘Wild West’ Needing Consumer Protections, Warren Says

The U.S. government needs to step up oversight of the digital currency market and find ways to protect consumers from scams stemming from the rapid rise of cryptocurrencies, Massachusetts Democratic Senator Elizabeth Warren said Wednesday.

Warren, in a Bloomberg TV interview, called the market for cryptocurrencies the “wild West,” and said digital currency is “not a good way to buy and sell things and not a good investment and an environmental disaster.”

U.S. Senator Elizabeth Warren says cryptocurrencies need to be more regulated.

Source: Bloomberg)

Earlier in the day, Warren chaired a Senate Banking subcommittee hearing that explored issues with existing cryptocurrencies as well as whether the U.S. Federal Reserve should issue ...