- One of the founding principles of cryptocurrency is that it’s decentralized and unregulated. But the U.S. government isn’t too worried about crypto’s founding principles.
In fact, cryptocurrency regulation has been a frequent point of interest lately for U.S. lawmakers and government agencies. Just this week, the $1 trillion infrastructure bill which includes provisions for crypto regulation passed the Senate, and Security and Exchange Commission Chair Gary Gensler talked about the SEC’s role in regulating digital assets.
A few key themes have emerged on the subject of new U.S. cryptocurrency regulation: stopping cryptocurrency crime and tax evasion, stablecoin regulation, and the potential for investment vehicles like crypto ETFs and other funds.
For many crypto enthusiasts, the decentralized nature of digital currencies — which, unlike traditional currencies, aren’t backed by any institution or government authority — is a big draw. But regulatory guidance can help protect investors. “As much as I like the decentralization and the lack of government [involvement], I am glad that they are paying attention because unfortunately with cryptocurrency, there are a lot of scams,” says Kiana Danial, author of “Cryptocurrency Investing for Dummies.”
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