Legislators and regulators have taken note.
We break down the basics below.
But an earlier draft included some significant provisions concerning the legislation of cryptocurrency.
But this issue may surface again in the future.
As a modest collection of existing laws, as well as current proposals in Congress (includingH.R.
SEC Chair Gary Gensler has become one of the more outspoken voices advocating government regulation of cryptocurrency.
In the fall of 2021, Coinbase was set to launch Lend, its new crypto-lending platform.
The SEC announcement on Lend came one month after Gensler sent a letter to Sen. Elizabeth Warren.
What role will the SEC play in crypto laws?
Gensler said he believes crypto can foster change, but without regulatory oversight, he questioned its longevity.
What is driving federal interest in regulatory action?
Overall, bitcoin remains largely unregulated as an asset in the US.
Currently, most cryptocurrencies are decentralized and autonomous.
What laws govern cryptocurrency right now?
Despite the lack of an overarching federal or international regulatory framework, there are some crypto laws in place:
