US regulators continue to discuss crypto: Law Decoded, Nov. 13–20

Cointelegraph
Cointelegraph

20 Nov 2023 9:00 PM

New regulatory discussions on crypto in the United States, new taxes on DeFi and wrapped tokens in Australia. ...

  • The United States House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion discussed the uses of blockchain technology and the need for collaboration to prevent misuse of digital assets.
  • U.S. Senator Elizabeth Warren highlighted the dangers of cryptocurrency scams and proposed the Digital Asset Anti-Money Laundering Act to regulate digital assets.
  • The New York State Department of Financial Services introduced new restrictions for crypto companies to protect investors and assess risks.
  • Republican presidential candidate Vivek Ramaswamy unveiled a crypto policy framework called "The Three Freedoms of Crypto" to prosecute bad actors, provide regulatory clarity, and prevent limitations on self-hosted wallets.
  • The Australian Taxation Office clarified its intent to tax capital gains on decentralized finance and wrapping crypto tokens.
  • The Democratic Party of Korea made it mandatory for candidates to disclose their digital asset holdings before the 2024 general election.

Overall, the sentiment in the article is mixed. There are discussions on the potential benefits of blockchain technology, the need for collaboration and regulation to prevent misuse, and the dangers of cryptocurrency scams. However, there are also concerns about the challenges posed by crypto in terms of transparency and regulatory clarity.

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You May Ask

What was discussed in the United States House Financial Services Subcommittee hearing on digital assets?What dangers did U.S. Senator Elizabeth Warren highlight regarding cryptocurrency scams?What are the new restrictions introduced by the New York State Department of Financial Services for crypto companies?What is the crypto policy framework proposed by Republican presidential candidate Vivek Ramaswamy?How does the Australian Taxation Office treat capital gains on decentralized finance and wrapping crypto tokens?What is the requirement imposed by the Democratic Party of Korea on prospective candidates regarding digital asset holdings?

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