US Treasury asks regulators to take more action against crypto scams
calling on other federal regulators to further crack down on scams and other illegal crypto activity. Officials want agencies to"expand and increase" investigations and enforcement, issue clearer guidance and help crypto users understand both risks and the reporting tools at their disposal.
In all cases, the Treasury asked for more coordination between government divisions. The department also asked for greater transparency on illegal activity to help spot trends in scams and other crimes. The tougher stance is necessary given the dangers, according to the report. While proponents argue crypto can democratize financial services by making them more affordable and accessible, the Treasury found that there wasn't much evidence to support the claim. If anything, the department found that low-income households were particularly vulnerable to ripoffs — 29 percent of crypto investors had an annual income below $50,000, according to Federal Reserve Board data.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Prominent Crypto Analyst Has Important Warning About Ethereum.intocryptoverse believes that $ETH will get 'rekt' against Bitcoin as the cryptocurrency is rapidly losing value after Merge
Les mer »
Number of Youtube Crypto Stream Scams and Fake Domains Explodes in H1 2022 – Bitcoin NewsA report issued by Group-IB, a security company, found the number of domains that host crypto scams exploded during the first half of 2022.
Les mer »
Marathon's Thiel: Regulators should incentivize renewables for bitcoin minersFollowing the White House report on crypto assets and climate, Marathon CEO Fred Thiel argued that regulators should incentivize bitcoin miners to use renewable energy.
Les mer »
British regulator lists FTX crypto exchange as 'unauthorized' firmAddressing the potential customers, the FCA notes that they won’t be able to get their money back or seek the protection of the Financial Services Compensation Scheme “if things go wrong.”
Les mer »