US senator questioned the need to ban cryptocurrencies The cr | ERC20 Official Crypto channel

US senator questioned the need to ban cryptocurrencies

The cryptocurrency industry needs stricter rules, but it is hardly worth taking the position of a total ban on this issue. This opinion was expressed by Senator from Minnesota (USA) Tina Smith on NBC.

Smith, along with colleagues from the Democratic Party, led a campaign calling for tighter regulation. When asked whether crypto should be considered a commodity, she called providing consumer protection a real challenge and urged the SEC to use its experience to do this.

“We know how to protect consumers in this country from dubious financial transactions and from unethical players like, apparently, FTX […]. I'm not saying that the Commodity Futures Trading Commission [CFTC] doesn't play an important role. But I think the problem is how to make sure there are basic consumer protections in place so that people don't get ripped off,” Smith explained.