Two US senators have introduced a new bill to prevent the United States from falling behind other countries in terms of crypto regulations.
US Senators Maggie Hassan (D-NH) and Joni Ernst (R-IA); They introduced a bipartisan bill whose purpose is to enable America to catch up with worldwide cryptocurrency regulations.
The bill requires the U.S. Department of the Treasury to report on the state of the crypto regulatory environment around the world. In a statement, Hassan claims the Treasury needs to learn more and better understand how the new asset class impacts global finance.
Talking about the vulnerability in supply chains, especially following the recent cybersecurity attacks against Colonial Pipeline and meat producer JBS, Hassan drew attention to the security risks posed by crypto and stated that the Treasury department wants crypto usage to be at its peak, including how crypto will affect supply chains.
Ultimately, the purpose of the cryptocurrency bill is; It seems like the US government should learn more about and understand more about cryptocurrency before moving forward with specific regulations. The United States, which has been the target of criticism for the lack of regulatory clarity in the cryptocurrency market; He seems to have slowly addressed this issue. For example, earlier this month, the Biden administration met with representatives of the cryptocurrency industry to discuss stablecoins.