White House says more crypto regulation needed to avoid 'harming' Americans

The White House on Thursday said more regulation is needed of cryptocurrencies to avoid harming Americans. 

Speaking during a press conference, White House press secretary Karine Jean-Pierre said the Biden administration "has constantly maintained that, without proper oversight of cryptocurrencies, they risk harming everyday Americans." 

"This is something that clearly we monitor and that we see as an important issue," she said. "The most recent news further underscores these concerns and highlights why prudent regulation of cryptocurrencies is indeed needed." 

The "recent news" Jean-Pierre was referring to was the collapse this week of cryptocurrency exchange FTX....