NAVASU Investing in Cryptocurrency
Cryptocurrency Regulation in the
United States
Cryptocurrency Regulation in the United States In the US, cryptocurrency companies are attracting increased attention from federal and state governments. There has been significant engagement by federal agencies, with many praising the technology as a critical part of the US’s future infrastructure, acknowledging the need for the US to maintain its reputation as a pioneer of emerging technologies.
affecting
creation of a new type of special purpose depository institution. States like Hawaii and Maryland, on the other hand, have adopted a less enthusiastic stance, cautioning against investing in cryptocurrencies. Meanwhile, New York, which formerly passed laws that were considered restrictive, has eased licensing restrictions in the hope of appealing to cryptocurrency companies that previously abandoned the New York market.
Several state governments have passed legislation
is Wyoming, which has legislated for the
cryptocurrencies.
Recognizing the potential of leveraging tech investment to improve public services and stimulate local economies, some states have sought to promote the technology by passing favorable regulations, effectively exempting cryptocurrencies from money transmissible statutes and/or state securities laws. One example
The Securities and Exchange Commission (SEC) has regulatory authority over the issuance and resale of tokens. The SEC prosecutes companies that fail to comply with legal requirements, as was the case with BlockFi, a cryptocurrency company that was fined $100 million in February 2022 for failing to register the offers and sales of its crypto lending product.
The SEC prosecutes companies that fail to comply with legal requirements, as was the case with BlockFi, a cryptocurrency company that was fined $100 million in February 2022 for failing to register the offers and sales of its crypto lending product.
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