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

She said the White House will continue to monitor developments on cryptocurrencies.

“The administration has consistently maintained that, without proper oversight of cryptocurrencies, they risk harming everyday Americans,” Jean-Pierre told reporters.

“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.

(Reporting by Trevor Hunnicutt and Steve Holland, Editing by Franklin Paul and Jonathan Oatis)