Last week, we saw US lawmakers drafting a bill to mitigate risks on cryptos, as well as suing BlockFi for not following the rules. In the last two days, the officials were seen getting more involved with the crypto market.
The Justice Department of America has appointed a veteran cybersecurity prosecutor to lead the National Cryptocurrency Enforcement Team. The team will be led by Eun Young Cho and is reportedly expected to investigate and prosecute illegal cryptocurrency schemes carried out by hackers and criminals in nation-states, especially in North Korea and Iran.
Not just a new team, the US government has a comprehensive plan to deal with the crypto market. Yahoo Finance reported earlier today that the U.S. President Joe Biden is expected to issue an executive order on cryptocurrencies this week. It will direct the state agencies to study cryptocurrencies and Central Bank Digital Currencies (CBDCs) in order to come up with a government-wide strategy to regulate digital currencies.
But, while state governments wait for Joe Biden’s orders, US Congressman Warren Davidson introduces the “Keep Your Coins Act”, aiming to protect the privacy of US citizens dealing with cryptocurrencies. However, the Ohio lawmaker hasn’t shared an exact date to when the draft will be introduced in the U.S. House of Representatives.
In another attempt to protect the cryptocurrency investment sector, the Federal Open Market Committee (FOMC) has adopted a new set of rules that will prevent senior FED officials from purchasing cryptocurrencies.
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