WASHINGTON, DC (WDBJ) – The Senate Banking Committee will take up the collapse of the cryptocurrency exchange FTX during a hearing Wednesday morning.
In a conversation with reporters Tuesday afternoon, Sen. Mark Warner said he will be working to strengthen oversight of cryptocurrency and other financial tools that are currently unregulated.
Warner made the comments during a teleconference from Washington.
He said he has been open to innovation in the area of block chain technology, but has serious questions about its purpose and benefits.
“With all of these unregulated areas where we touch finances, we run the risk of consumers being harmed,” Warner said. “And this is an area where I expect to be working with colleagues on a legislative solution in the coming weeks and months.”
Warner said he doesn’t want to take one financial catastrophe and apply it to the entire sector, but when it comes to questions and concern, he said we might be seeing the tip of the iceberg.
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