US Senators Urge Treasury to Study How Other Countries Regulate Crypto

The U.S. Treasury Department should study and report to Congress on how other countries regulate the cryptocurrency industry. The proposal is contained in a bill by Senators Maggie Hassan and Joni Ernst, Politico reports.

According to the publication, the aim of the bill is to obtain more information about cryptocurrency before moving on to specific rules.

“To boost the competitiveness of the United States, our government must better understand the role that cryptocurrency plays in the global economy, and how it is used by other countries,” Hassan said.

She stressed that the Treasury must gain a better understanding of the impact of this new asset class on global finance.

Earlier, Hassan sent a letter to a number of institutions in which she expressed concern about the use of cryptocurrency as ransom payments to ransomware programs.

Earlier in September, the U.S. House of Representatives included a provision on cryptocurrencies in the defence spending bill.

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