WASHINGTON: Cryptocurrencies risk harming everyday Americans without proper oversight and the latest news involving crypto underscores these concerns, White House press secretary Karine Jean-Pierre has said.

“This is something that clearly we monitor and that we see as an important issue. The most recent news further underscores these concerns and highlights why prudent regulation of cryptocurrencies is indeed needed,” she said, noting that the White House will continue to monitor developments on cryptocurrencies.