Biden management wants to increase cryptocurrency control to protect investors and prevent illegal transactions

Biden management reportedly wants to increase surveillance of the crypto market in order to protect investors and prevent illegal transactions. White House officials, lawmakers and central bankers held several meetings about cryptocurrency regulation amid recent fluctuations in crypto asset prices. Biden administration is discussing crypto regulation Biden administration, lawmakers and central bankers held numerous meetings amid the recent surge in the crypto market, the Washington Post reported on Tuesday. White House officials were briefed by the Treasury Department earlier this month about the risks posed by cryptocurrencies, referring to two people familiar with the matter. Federal regulators were also involved, including the Office of the Currency Controller (OCC) and the Consumer Financial Protection Bureau (CFPB). Biden government officials are investigating possible “ loopholes '' with the cryptocurrency market, such as whether cryptocurrencies can be used to fund illegal or terrorist activities. private investors. buy cryptocurrencies. The Treasury Department recently announced Biden's tax proposal, which requires companies to report over $ 10,000 of crypto transactions to the Internal Revenue Service (IRS) as part of a larger effort. the fight against tax evasion. Federal regulators do not currently view crypto market volatility as a threat to the wider stability of the financial market, but believe the risks are worth watching. Management officials are discussing the possibility of increasing crypto surveillance as investors are still able to “ dogecoin as they wish, '' one person commented on the issue, explaining: something. but still waiting for a long time

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