US Senator Ron Wyde: What Cryptocurrency Really Needs is a Regulatory Framework

US Senator Ron Wyden (Democratic Party from Oregon) recently voted to support the House of Representatives' resolution to overturn the US Securities and Exchange Commission's "Staff Accounting Bulletin 121" and questioned the threats to online personal and financial privacy. Ron Wyden said that what cryptocurrencies really need is a regulatory framework. This is what Republican Congressman Patrick McHenry is trying to do. Stringent measures need to be taken against scammers and fraudsters. I believe that McHenry's approach of establishing a regulatory framework and focusing more on cracking down on fraudsters and scammers is correct.

Ron Wyden has long served as a US Senator and has been a sponsor or co-sponsor of several important legislation to promote widespread internet access.