Monday 19 February 2018

US lawmakers think about regulating the market of cryptocurrencies (1)

The US authorities, alarmed by the global riot around bitcoin and other cryptocurrencies, are preparing to consider new rules, the introduction of which will lead to tightening of federal control over this emerging class of assets, several lawmakers told Reuters.
Among members of both leading US parties in the Senate and the House of Representatives, there is an increasing desire to start fighting against the risks that cryptocurrencies represent for investors and the financial system, lawmakers said.
Even conservative Republicans advocating for a free market said that the need for regulation may arise if the cryptocurrencies begin to threaten the US economy.
There is no doubt that there is a need for a regulatory framework, according to Republican Senator Mike Rounds, a member of the Senate Banking Committee.
At the moment, digital assets are located in the so-called gray zone of the legal field, in various situations falling under the regulation of the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), the US Treasury, the Federal Reserve or the state authorities.


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