WASHINGTON, DC (WDBJ) - The Senate Banking Committee will address the collapse of cryptocurrency exchange FTX during a hearing on Wednesday morning.
In a conversation with reporters Tuesday afternoon, Senator Mark Warner said he will work to strengthen supervision of cryptocurrencies and other financial tools that are currently unregulated.
Warner made the comments during a conference call from Washington.
He said that he has been open to innovation in the area of โโblockchain technology, but has serious doubts about its purpose and benefits.
โWith all of these unregulated areas where we touch finance, we run the risk that consumers will be hurt,โ Warner said. "And this is an area where I look forward to working with colleagues on a legislative solution in the coming weeks and months."
Warner said he doesn't want to take a financial catastrophe and apply it to the entire industry, but when it comes to questions and concerns, he said we might be looking at the tip of the iceberg.
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