Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: coingabbarmarket on October 14, 2022, 01:54:23 PM
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US Federal Reserve Vice Chair Michael Barr stated on Wednesday that the Fed is collaborating with the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) to regulate and monitor crypto-asset operations.
Michael Barr also discussed stablecoin regulations, the risks of tokenizing bank liabilities, the advancement of consumer autonomy, the FedNow Service digital payment system, and CBDC.
Read More - https://www.coingabbar.com/en/crypto-currency-news-english/fed-actively-collaborating-occ-fdic-crypto-regulations
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This was to be expected. States will gradually develop the process of regulating cryptocurrencies and stablecoins. Reasonable regulation of the circulation of cryptocurrencies by states is necessary. Otherwise, scammers and hackers will greatly undermine the security of working with cryptocurrency. On the other hand, then states will be able to take cryptocurrency under the protection of the legal system and courts. But the difficulty lies in finding a middle ground in such regulation so as not to infringe on the decentralized nature of the cryptocurrency.
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Crypto law doesn't seem necessary if the law is detrimental to crypto users, the number of scams certainly requires legislation so that crypto projects don't end up being scams, but the problem is where the law will be made, The FED seems to want to regulate crypto, but they need to accept ETFBitcoin, it's a thing to do before some rules are applied.