Global Economic Intersection
Advertisement
  • Home
  • Economics
  • Finance
  • Politics
  • Investments
    • Invest in Amazon $250
  • Cryptocurrency
    • Best Bitcoin Accounts
    • Bitcoin Robot
      • Quantum AI
      • Bitcoin Era
      • Bitcoin Aussie System
      • Bitcoin Profit
      • Bitcoin Code
      • eKrona Cryptocurrency
      • Bitcoin Up
      • Bitcoin Prime
      • Yuan Pay Group
      • Immediate Profit
      • BitQH
      • Bitcoin Loophole
      • Crypto Boom
      • Bitcoin Treasure
      • Bitcoin Lucro
      • Bitcoin System
      • Oil Profit
      • The News Spy
      • Bitcoin Buyer
      • Bitcoin Inform
      • Immediate Edge
      • Bitcoin Evolution
      • Cryptohopper
      • Ethereum Trader
      • BitQL
      • Quantum Code
      • Bitcoin Revolution
      • British Trade Platform
      • British Bitcoin Profit
    • Bitcoin Reddit
    • Celebrities
      • Dr. Chris Brown Bitcoin
      • Teeka Tiwari Bitcoin
      • Russell Brand Bitcoin
      • Holly Willoughby Bitcoin
No Result
View All Result
  • Home
  • Economics
  • Finance
  • Politics
  • Investments
    • Invest in Amazon $250
  • Cryptocurrency
    • Best Bitcoin Accounts
    • Bitcoin Robot
      • Quantum AI
      • Bitcoin Era
      • Bitcoin Aussie System
      • Bitcoin Profit
      • Bitcoin Code
      • eKrona Cryptocurrency
      • Bitcoin Up
      • Bitcoin Prime
      • Yuan Pay Group
      • Immediate Profit
      • BitQH
      • Bitcoin Loophole
      • Crypto Boom
      • Bitcoin Treasure
      • Bitcoin Lucro
      • Bitcoin System
      • Oil Profit
      • The News Spy
      • Bitcoin Buyer
      • Bitcoin Inform
      • Immediate Edge
      • Bitcoin Evolution
      • Cryptohopper
      • Ethereum Trader
      • BitQL
      • Quantum Code
      • Bitcoin Revolution
      • British Trade Platform
      • British Bitcoin Profit
    • Bitcoin Reddit
    • Celebrities
      • Dr. Chris Brown Bitcoin
      • Teeka Tiwari Bitcoin
      • Russell Brand Bitcoin
      • Holly Willoughby Bitcoin
No Result
View All Result
Global Economic Intersection
No Result
View All Result
Home Econ Intersect News

Crypto Regulation In The US: How It Started

John Wanguba by John Wanguba
May 4, 2023
in Econ Intersect News, Economics
0
0
SHARES
10
VIEWS
Share on FacebookShare on Twitter

As cryptocurrency continues to gain popularity, governments around the world are grappling with how to regulate this emerging market. In the United States, the question of how to regulate cryptocurrency has been particularly contentious, with various agencies and lawmakers offering differing opinions on the matter.

The Securities and Exchange Commission (SEC) has been at the forefront of the debate over cryptocurrency regulation. In 2017, the agency issued a report stating that some cryptocurrencies could be considered securities and therefore subject to federal securities laws. This set off a flurry of activity, with some cryptocurrency companies registering with the SEC and others arguing that they should be exempt from such regulations.

US crypto regulation

In 2018, the SEC took a more aggressive stance, launching a series of enforcement actions against companies that it claimed were violating securities laws. This led to increased scrutiny of the cryptocurrency industry and a growing awareness of the need for regulation.

The Commodity Futures Trading Commission (CFTC) has also been involved in the debate over cryptocurrency regulation. In 2015, the agency declared that cryptocurrencies like Bitcoin were commodities and therefore subject to its regulatory oversight. In 2017, the CFTC approved the first Bitcoin futures contracts, further legitimizing the cryptocurrency as an investment.

The Internal Revenue Service (IRS) has also weighed in on cryptocurrency regulation, issuing guidance in 2014 that classified cryptocurrencies as property for tax purposes. This means that profits from cryptocurrency transactions are subject to capital gains taxes, just like profits from stocks or real estate.

In addition to these federal agencies, individual states have also been active in regulating cryptocurrency. New York was the first state to introduce comprehensive regulation of cryptocurrency with its BitLicense program, which requires companies to obtain a license to operate in the state. Other states, including California and Wyoming, have also passed legislation related to cryptocurrency.

Crypto Regulation In The US Still Uncertain

Despite these efforts, the regulation of cryptocurrency in the United States remains a patchwork of laws and regulations. There is no overarching federal framework for regulating cryptocurrency, and the rules and regulations vary from state to state. This has created uncertainty for cryptocurrency companies and investors, who are unsure of what rules they need to follow.

There are several reasons for the lack of comprehensive cryptocurrency regulation in the United States. One of the main challenges is that cryptocurrency is a new and rapidly evolving technology, and regulators are struggling to keep up with its development. Additionally, there are disagreements among lawmakers and regulators about how cryptocurrency should be regulated.

Some advocates of cryptocurrency argue that it should be regulated in a way that promotes innovation and growth. They point to the potential benefits of cryptocurrency, such as its ability to provide financial services to unbanked populations and to facilitate cross-border transactions. They argue that overly restrictive regulation could stifle innovation and limit the potential benefits of cryptocurrency.

Others, however, are more skeptical of cryptocurrency and argue that it should be subject to strict regulation. They point to the risks of fraud and money laundering associated with cryptocurrency and argue that regulation is necessary to protect consumers and prevent criminal activity.

There is also a lack of consensus among regulators about how to classify cryptocurrency. Some agencies, like the SEC, view it as a security, while others, like the CFTC, classify it as a commodity. This lack of clarity makes it difficult for cryptocurrency companies to understand what regulations apply to them.

US Senate committee told 'get crypto regulation

Despite these challenges, there are signs that comprehensive cryptocurrency regulation may be on the horizon in the United States. In 2021, the SEC announced that it would be reviewing its cryptocurrency regulations and considering new rules to protect investors. Additionally, some lawmakers have introduced bills that would provide a more comprehensive regulatory framework for cryptocurrency.

Buy Bitcoin Now

One such bill is the Digital Asset Market Structure and Investor Protection Act, which was introduced in the House of Representatives in 2021. The bill would establish a regulatory framework for cryptocurrency and require companies to register with the SEC.

As the case between Ripple and SEC continues, it is not yet clear what measures regulators are willing to take to ensure that the crypto market is regulated. Some analysts and experts believe that the watchdogs are suffocating the nascent sector with draconian laws. But, time will tell what happens later in 2023 and beyond.

Tags: Commodity Futures Trading Commission (CFTC)cryptocrypto regulationcryptocurrencyregulationSECthe US
Previous Post

Can AI Read Minds?

Next Post

Severe Economic Reset Possible Amid Quickest PPI Plunge In 75 Years – Mike McGlone

Related Posts

What To Consider When Evaluating Low-Code And No-Code Platforms
Business

What To Consider When Evaluating Low-Code And No-Code Platforms

by John Wanguba
June 1, 2023
Crypto Bear Phase Gone, ‘Explosive’ Bull Market Imminent – Veteran Investor
Economics

Crypto Bear Phase Gone, ‘Explosive’ Bull Market Imminent – Veteran Investor

by John Wanguba
June 1, 2023
Only 2 Exchanges Registered In Hong Kong As Crypto Ban Is Removed
Economics

Only 2 Exchanges Registered In Hong Kong As Crypto Ban Is Removed

by John Wanguba
May 31, 2023
Will Ethereum Outperform Bitcoin?
Economics

Will Ethereum Outperform Bitcoin?

by John Wanguba
May 30, 2023
How Will The US Debt Ceiling Crisis Affect Bitcoin Price
Economics

How Will The US Debt Ceiling Crisis Affect Bitcoin Price

by John Wanguba
May 29, 2023
Next Post
Severe Economic Reset Possible Amid Quickest PPI Plunge In 75 Years – Mike McGlone

Severe Economic Reset Possible Amid Quickest PPI Plunge In 75 Years – Mike McGlone

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Browse by Category

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

Browse by Tags

adoption altcoins bank banking banks Binance Bitcoin Bitcoin adoption Bitcoin market blockchain BTC business China crypto crypto adoption cryptocurrency crypto exchange crypto market crypto regulation decentralized finance DeFi Elon Musk ETH Ethereum Europe Federal Reserve finance FTX inflation investment market analysis Metaverse NFT nonfungible tokens oil market price analysis recession regulation Russia stock market technology Tesla the UK the US Twitter

Archives

  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • August 2010
  • August 2009

Categories

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized
Global Economic Intersection

After nearly 11 years of 24/7/365 operation, Global Economic Intersection co-founders Steven Hansen and John Lounsbury are retiring. The new owner, a global media company in London, is in the process of completing the set-up of Global Economic Intersection files in their system and publishing platform. The official website ownership transfer took place on 24 August.

Categories

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

Recent Posts

  • What To Consider When Evaluating Low-Code And No-Code Platforms
  • Crypto Bear Phase Gone, ‘Explosive’ Bull Market Imminent – Veteran Investor
  • Only 2 Exchanges Registered In Hong Kong As Crypto Ban Is Removed

© Copyright 2021 EconIntersect - Economic news, analysis and opinion.

No Result
View All Result
  • Home
  • Contact Us
  • Bitcoin Robot
    • Bitcoin Profit
    • Bitcoin Code
    • Quantum AI
    • eKrona Cryptocurrency
    • Bitcoin Up
    • Bitcoin Prime
    • Yuan Pay Group
    • Immediate Profit
    • BitIQ
    • Bitcoin Loophole
    • Crypto Boom
    • Bitcoin Era
    • Bitcoin Treasure
    • Bitcoin Lucro
    • Bitcoin System
    • Oil Profit
    • The News Spy
    • British Bitcoin Profit
    • Bitcoin Trader
  • Bitcoin Reddit

© Copyright 2021 EconIntersect - Economic news, analysis and opinion.

en English
ar Arabicbg Bulgarianda Danishnl Dutchen Englishfi Finnishfr Frenchde Germanel Greekit Italianja Japaneselv Latvianno Norwegianpl Polishpt Portuguesero Romanianes Spanishsv Swedish