I have no doubt that there will be an organization that takes over regulating cryptocurrency in the US. My bet is that it will be a newly created organization, as current entities have been not willing to step up and take control, still not sure if crypto is a currency or a security. That being said, Elizabeth Warren should stop trying to make herself relevant with nonsense letters to the SEC.

First of all, she is asking the SEC if cryptocurrency exchanges are “fair, orderly and efficient?” I am not sure why this is any concern of Elizabeth Warren. While, crypto, by definition, is all three of these things, it is in fact why crypto is here, because it does these things better than they have been done before.  Exchanges are simply avenues to trade in crypto and are not fair or unfair. If you agree with the fees, that is it. If congress is concerned about these three things, though, I could give them a list of organizations to start with before crypto: casinos, Postal System, Congress itself, TSA, whoever issues passports, the immigration system.  But, sure let’s ask if crypto is fair.

Next, she is worried about the 80 million lost to scams recently. Let’s look at that number, in a 1.5 trillion market cap, she wants the SEC to regulate the .00005% lost to scams.  A retail location in the US expects to lose 1 to 5 percent to theft, I have not seen her asking about that number. So, when the words “common sense” show up in her letter to the SEC, I think she should maybe take a look inward.

If Congress wants to really look into something, why not take a look at the House Speaker’s husband pulling in 5.3 million in a stock deal that happened in a very timely manner, just a week before congress acted.  Wait, there is no issue there because it was her husband doing it, and not her.

I am keeping this rant short, as like most things in congress, this is just a politician keeping their name in the headlines.