Joe Biden signs an executive order on Crypto: Report this week

Von Krypto News Österreich

  • Although the arrangement is not yet fully understood, it was speculated that a single authority will receive new regulatory supervisory powers
  • cryptor regulation in the United States has slowly intensified in recent years, whereby larger reporting obligations have been imposed on the stock exchanges
According to A, President Joe Biden, according to A reports, is preparing to sign a implementation regulation on cryptocurrency policy this week Report by Reuters on Monday, which was cited with the matter.

The order that may be aimed to appoint a person with a supervisory authority to monitor the cryptom market could already be on Wednesday.

The responsibility for the supervision of the market for digital assets continues to burn in the minds of the regulatory authorities, which strive to close the gap, which they perceive as trading activities that are outside of their area of ​​responsibility.

Last month, the chairman of the Commodity Futures Trading Commission (CFTC), Rostin Behnam, said in front of a Senate Committee who wanted to commission his authority to regulate the crypto spot market.

During this hearing, Benham was asked whether a lead agency should be set up for the regulation of crypto, and said that his agency should share responsibility together with the Securities and Exchange Commission.

It was speculated - especially by Michael Fasanello, director of training and regulatory matters at the Blockchain Intelligence Group in January - that a new person would receive supervisory powers through several partner agencies.

These authorities include the CFTC, the SEC, the Financial Crimes Enforcement Network and the Office of the Compotroller.

Although some, including Sec-Commissioner Hester Pierce, said that adding a new regulatory authority should not be a top priority in a “fragmented regulatory system” for financial products.

The crypto regulation in the USA has slowly intensified in recent years, with larger reporting obligations on the stock exchanges and a precise examination of stable coins, the value of which is generally linked to fiat currencies or raw materials.

Last year the Ministry of Finance issued an obligation for individuals to report transactions in crypto of over $ 10,000 or more to the Internal Revenue Service.

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The contribution Joe Biden to Sign Executive Order on Crypto This Week: Report is not a financial advice.