Claim: Senator Warren voices concern over crypto as she enters the 2020 Presidential Race
The senator is known for her criticism of cryptocurrencies, having repeatedly expressed concerns that cryptocurrency consumers could be hurt by scam initial coin offerings (ICOs) while also stating that crypto is “easy to steal.”
Speaking at a Senate Banking Committee hearing in October, Warren asserted that “the challenge is how to nurture productive aspects of crypto with protecting consumers.” The Senator also outlined that American consumers are falling victim to cryptocurrency scammers.
Argument/Evidence: Senator Warren Asks SEC Chairman about Virtual Currency and Initial Coin Offerings
Back in October, we reported that Warren had commented negatively on crypto, expressing her belief that digital currencies are too easily stolen, and that initial coin offerings lead many small investors into scams. In February, Senator Warren outlined a lack of sufficient crypto regulation following the SEC’s decision to consider certain currencies to be securities, noting that companies had raised “over $4 billion” in unregistered ICOs.
“When companies don’t register their tokens as securities, they can hide information and the SEC does not have the information it needs, to monitor this market.” she said in a video posted earlier in February.