The USA has recently increased its interest in the crypto money sector, and the effects of this still continue. Six US senators called for the regulation of the cryptocurrency industry to be brought in and accelerated as soon as possible.
Accelerate Cryptocurrency Regulations
The Biden administration approved a draft investment in the country’s infrastructure in early November, which emphasized that crypto companies and protocols must also pay taxes.
The law was heavily backed by the requirement that anyone who qualifies as a “broker” to reveal their identity, and it has proven to affect even mining companies, wallet companies, and other individual miners.
The same point was emphasized in the statement released by six senators yesterday.
Some market participants … consider an overly broad interpretation of the term “broker” to simply [işlemleri doğrulamak] They expressed their concern that it could capture certain individuals dealing with cryptocurrencies and organizations that only provide software or hardware solutions that enable users to maintain custody of their digital asset wallets.”
This concern, which was also highlighted in the above-mentioned section, has not yet been resolved, but the senators are advocating that it be recognized and activated as soon as possible.
Six senators actually stood by crypto investors, emphasizing that the law in question should be passed “properly.” Stating that the Treasury Department should also prepare a legal guide on cryptocurrencies before the end of 2021, the senators want crypto money regulations to be accelerated.