The United Nations (UN) published a news piece on 3 October warning masses of the possibility of a Fed-induced global recession. The Biden administration, thus, urged Congress to speed up the implementation of a regulatory framework for cryptocurrencies and digital assets. As per The Financial Times article on 3 October, the U.S. Financial Stability Oversight […]
The Biden administration, thus, urged Congress to speed up the implementation of a regulatory framework for cryptocurrencies and digital assets.the U.S. Financial Stability Oversight Council has urged Congress to reach an agreement on regulating crypto spot markets. However, Legislation is still “months away,” according to officials close to the legislative deliberations.
Thus, the Biden administration requested for prompt congressional regulation of cryptocurrencies as per the recently published article. The US Financial Stability Oversight Council is a group of the country’s top financial regulators, which includes the Treasury. This group encouraged Congress to come to agreements on several topics in a