Warren Says Crypto Needs More Cops, Worries About Systemic Risks

Senator Elizabeth Warren wants Congress to respond to the explosive growth of cryptocurrencies and urged U.S. regulators to do more with the powers they have to police the market.

“Right now we don’t have any cops on the beat to speak of,” Warren, a Massachusetts Democrat, said in a Wednesday Bloomberg Television interview with David Westin. “So long as it’s an unregulated system, you may be pulling more people in so that they can get cheated and that’s not what we want.”

WATCH: Warren says cryptocurrency needs a “cop on the beat.”

Source: Bloomberg)

Warren pointed out that pump-and-dump schemes that are clearly illegal for stocks often go unpunished for ...