Raja Krishnamoorthi, a member of the US House of Representatives, has sent multiple letters to a number of federal agencies and cryptocurrency exchanges asking for data on the fight against fraud.
According to the appeal:
“The lack of a central authority to detect suspicious transactions in many situations, the irreversibility of transactions, and the limited understanding by many consumers and investors of the underlying technology makes cryptocurrencies the preferred transaction method for attackers.”
The recipients of the letters include the Ministry of Finance, the Securities and Exchange Commission, the CFTC and the FTC, as well as Binance.US, Coinbase, FTX, Kraken and KuCoin. They now must report on the actions taken to protect investors.