BitRss.com latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources

Elizabeth Warren led cryptocurrency bill in works, may give SEC most regulatory authority

Senator Elizabeth Warren is working on a sweeping cryptocurrency bill that would give most cryptocurrency regulatory authority to the Securities and Exchange Commission, according to sources close to her.
“As Senator Warren has already said publicly, she’s working on crypto legislation and believes that financial regulators, including the SEC, have broad existing authority to crack down on crypto fraud and illegal money laundering,” Alex Sarabia, a Warren spokesperson, said in a statement to Semafor.
Warren’s office is investigating crypto-related issues, including taxation, regulation, climate, and national security, according to details by Semafor, which “could change.” 
Following the collapse of the crypto exchange FTX, the senator demanded new regulations to govern the crypto space. 
Among Warren’s proposals were the following:

 Ensure brokers and crypto exchanges comply with certain regulatory requirements, such as providing audited financial statements and mandating capital requirements similar to banks. 
Securing customer deposits so they are never combined with company assets and keeping them separate so they can’t be used to finance other investments if a company goes bankrupt.

To address these, Warren recently urged the SEC and other federal regulators to fight crypto fraud more aggressively and called on Congress to provide more funding to law enforcement agencies and financial regulators to close regulatory gaps.
Worth noting that cryptocurrencies are difficult to regulate in the US due to a lack of federal regulatory authority. Bitcoin is regulated as a commodity, by the Commodity Futures Trading Commission (CFTC), in the exchange-traded fund category by the Securities and Exchange Commission (SEC), and in the property category by the Internal Revenue Service (IRS), 
It is not the first time Elizabeth Warren is working on a crypto regulatory bill. She introduced one in March to regulate cryptocurrency and sanction Russia simultaneously. In essence, the bill was meant to force blockchain businesses to choose between the two countries and exert economic pressure on Russia.
 However, following that, Warren was met with criticism from crypto enthusiasts and non-crypto advocates alike.
The post Elizabeth Warren led cryptocurrency bill in works, may give SEC most regulatory authority appeared first on CryptoSlate .

BitRss.com shares this Contents always with License.

Thank you for Share!

   
Tumblr
LinkedIn
Reddit
VK

WhatsApp
Telegram

Cool to know huh? Read the full Article

Read the full Article:  ⭲ Elizabeth Warren led cryptocurrency bill in works, may give SEC most regulatory authority


Search about Crypto News


BITRSS | CRYPTOCURRENCY WORLD NEWS

The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed BitRss.com simple and intuitive, usable by all Devices, fast and effective.


| LEARN MORE ABOUT |

Today Most Popular News



SneakPeek Script
Setup, Upload and Go!