Media: senators demand US Treasury study cryptocurrency regulation in other countries

October 5, 2021

Media: senators demand US Treasury study cryptocurrency regulation in other countries

The US Treasury Department should study and report to Congress on how other countries regulate the cryptocurrency industry. Such a proposal is contained in a bill by Senators Maggie Hassan and Joni Ernst, Politico writes.

According to the publication, the purpose of the bill is to get more information about cryptocurrency before moving on to specific regulations.

"To improve US competitiveness, our government needs to better understand the role that cryptocurrency plays in the global economy and how it is used by other countries," Hassan said.

She stressed that Treasury needs to better understand the impact of the new asset class on global finance.

Earlier, Hassan had sent a letter to a number of institutions expressing concern about the use of cryptocurrency as ransomware for ransomware.

Recall that in September, the US House of Representatives included a provision on cryptocurrencies in the defence budget bill.

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