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WASHINGTON, DC (WDBJ) – The Senate Banking Committee will take up the collapse of the cryptocurrency trade FTX throughout a listening to Wednesday morning.

In a dialog with reporters Tuesday afternoon, Sen. Mark Warner mentioned he will probably be working to strengthen oversight of cryptocurrency and different monetary instruments which might be at present unregulated.

Warner made the feedback throughout a teleconference from Washington.

He mentioned he has been open to innovation within the space of block chain expertise, however has critical questions on its function and advantages.

“With all of those unregulated areas the place we contact funds, we run the chance of shoppers being harmed,” Warner mentioned. “And that is an space the place I anticipate to be working with colleagues on a legislative resolution within the coming weeks and months.”

Warner mentioned he doesn’t need to take one monetary disaster and apply it to your entire sector, however in terms of questions and concern, he mentioned we may be seeing the tip of the iceberg.

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