Starting this year US President Biden has decided that the crypto industry is now official taken seriously should be. Government agencies should properly examine how the industry is functioning. The Treasury Department has now released the first investigation.
Security crypto industry
It is Research It has many purposes. Consumers, investors and businesses must be protected. To do this, the industry must meet regulatory standards that reflect American values and ensure financial stability. The government wants to tackle parts of the crypto ecosystem that pose systemic risk.
Consideration should also be given to how criminals can use cryptocurrencies. To prevent this, governments have been taking several measures in recent times. In fact, the The United Nations announced In 2020 it is Blockchain Help fight crime.
Access to safe and cheap crypto services should be encouraged The Technological developments make this possible. All in all, it appears that almost nothing remains of the previously high blockchain content in government.
ohOK for other countries
What is special is that the Government It points out at several points that it recommends this policy to other countries as well. By freely sharing expertise, it is clearly trying to strengthen its influence on the policies of other countries.
The news is consistent with what the US Department of Justice said last month. It likes countries internationally Work well together To detect crypto criminals. This should be done quickly and efficiently to provide as few benefits as possible to criminals. If countries use the same regulations, fighting crime is immediately much easier.
Of course, there is a drawback. In the long run, governments can go outside their box and abuse these new toys. Recently it was rumored that Coinbase user data Sold to the US government† But according to Coinbase, this only applies to certain software that allows the government to monitor transactions for illegal activity. Unfortunately, the new rules do not make the boundary clear.
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