ICYMI: McIntosh Responds To Sen Warren On Digital Asset Regulation In WSJ LTE

Ben Decatur  |   November 28, 2022

Washington, D.C. – In case you missed it, Club for Growth President David McIntosh authored a Letter to the Editor of the Wall Street Journal in response to Senator Elizabeth Warren’s op-ed that called for more regulation of cryptocurrencies.

You can read the full Letter to the Editor here.

Excerpts:

“Behind the problem with FTX was the SEC’s failure to create a path for digital-asset exchanges. This drove FTX to do its business overseas, where it was able to make its own rules and gamble with investors’ deposits. Existing regulatory regimes in the U.S. and U.S.-based companies remain the best protections against fraud (“Regulate Crypto or It’ll Take Down the Economy” by Elizabeth Warren, op-ed, Nov. 23).

Not every financial instrument is guaranteed a return on investment. Risk is inherent. In 2000, at the height of the dot-com bubble, Pets.com lost nearly $150 million, but online retail became one of the most profitable investments in history.”