SEC’s Gensler Seeks Warren Help in Crypto Exchange Crackdown

U.S. Securities and Exchange Commission Chair Gary Gensler is turning to Senator Elizabeth Warren for help as he seeks to clamp down on cryptocurrency exchanges.

Gensler, who’s repeatedly rung alarm bells over the platforms during his four-month tenure, told Warren in an Aug. 5 letter that regulators need more resources to protect investors. He also said lawmakers should give watchdogs clear powers to write rules for exchanges, including decentralized finance, or DeFi, trading venues.

Gary Gensler

Photographer: Melissa Lyttle/Bloomberg

“We need additional authorities to prevent transactions, products and platforms from falling between regulatory cracks,” he wrote in response to questions from Warren about his ...