US Treasury Secretary Yellen Supports SEC and CFTC, Says Crypto Needs Additional Regulation

US Treasury Secretary Janet Yellen said in a Wednesday interview that she supported the enforcement actions by the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). She also wanted additional legislation in the crypto space.

Yellen said, "the SEC, the CFTC, and other regulators have the ability and tools to protect consumers and investors and I'm very supportive of seeing those agencies use the tools they have." However, she declined to comment on the individual cases where the SEC sued Binance and Coinbase, and the CFTC sued Binance.

"I see some holes in the system where additional regulation would be appropriate, and we would like to work with Congress to see additional legislation passed." Yellen added.

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