{"id":42898,"date":"2021-05-21T11:13:27","date_gmt":"2021-05-21T08:13:27","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=42898"},"modified":"2025-08-31T01:13:44","modified_gmt":"2025-08-30T22:13:44","slug":"opinion-regulatory-pressure-will-endure-but-a-bitcoin-ban-is-not-on-the-cards","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/opinion-regulatory-pressure-will-endure-but-a-bitcoin-ban-is-not-on-the-cards\/","title":{"rendered":"Opinion: Regulatory pressure will endure, but a Bitcoin ban is not on the cards"},"content":{"rendered":"<p>US authorities have begun to &#8216;clear&#8217; the regulatory field around digital assets, but this does not threaten a Bitcoin ban. This was stated by Caitlin Long, CEO of the cryptocurrency startup Avanti.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">1\/ IT\u2019S CLEAR a US <a href=\\\"https:\/\/twitter.com\/hashtag\/crypto?src=hash&#038;ref_src=twsrc%5Etfw\\\">#crypto<\/a> regulatory crackdown is starting but I\u2019m optimistic bc most of the major players\/agencies have spoken already &#038; the policy is taking shape: it\u2019s \\&#8221;pay taxes, comply w\/ laws &#038; don\u2019t take shortcuts, &#038; we\u2019ll enable the innovation.\\&#8221; It\u2019s NOT a \\&#8221;<a href=\\\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\\\">#bitcoin<\/a> ban\\&#8221;<\/p>\n<p>\u2014 Caitlin Long \ud83d\udd11 (@CaitlinLong_) <a href=\\\"https:\/\/twitter.com\/CaitlinLong_\/status\/1395489635120394242?ref_src=twsrc%5Etfw\\\">May 20, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p><em>\u201cI am optimistic. Most agencies and players have already voiced their position. Pay taxes, don\u2019t violate the laws, \u2018don\u2019t cut corners\u2019 and we will give the green light to innovation.\u201d<\/em>, \u2014 Long wrote.<\/p>\n<\/blockquote>\n<p>Caitlin Long, in the thread, highlighted a chronology of nine news items related to the Internal Revenue Service (IRS), which fall under the U.S. Treasury, including the <span data-descr=\\\"Office of the Comptroller of the Currency\\\" class=\\\"old_tooltip\\\">OCC<\/span> and <span data-descr=\\\"Financial Crimes Enforcement Network\\\" class=\\\"old_tooltip\\\">FinCEN<\/span>, as well as the Treasury Secretary and the Fed chair, during May 5\u201321.<\/p>\n<p>The head of the startup highlighted in particular the IRS proposal to compel Bitcoin exchanges to report transactions totalling <a href=\"https:\/\/forklog.com\/en\/news\/us-to-require-bitcoin-exchanges-to-report-cryptocurrency-transactions-over-10000\">over $10,000<\/a>.<\/p>\n<p>She also pointed to the Fed&#8217;s interest in stablecoins, which \u201cneed an appropriate regulatory and supervisory framework.\u201d<\/p>\n<p>The overarching takeaway from the news is compliance with the rules, explained Avanti&#8217;s CEO.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p><em>\u201cPressure may still persist. But the picture is clear. The path to \u2018responsible innovations\u2019 is open with strict compliance with the requirements.\u201d<\/em>, Long concluded.<\/p>\n<\/blockquote>\n<p>Regulators are considering <a href=\"https:\/\/forklog.com\/en\/news\/u-s-financial-regulators-to-form-interagency-group-to-chart-a-cryptocurrency-strategy\">creation of an interagency group<\/a> to develop a strategy for studying the cryptocurrency industry.<\/p>\n<p>Subscribe to ForkLog news on <a href=\\\"https:\/\/www.facebook.com\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Facebook<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>US authorities have begun to &#8216;clear&#8217; the regulatory field around digital assets, but this does not threaten a Bitcoin ban. Caitlin Long, CEO of the cryptocurrency startup Avanti, said.<\/p>\n","protected":false},"author":1,"featured_media":42899,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[2003,1305,2004,36,26],"class_list":["post-42898","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-avanti","tag-bitcoin-ban","tag-kaitlin-long","tag-regulation","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/42898","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=42898"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/42898\/revisions"}],"predecessor-version":[{"id":42900,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/42898\/revisions\/42900"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/42899"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=42898"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=42898"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=42898"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}