US crypto regulation tightens amid federal gridlock
Tuesday, April 11, 2023
Significance
While not as scathing as a broader March report from the White House on cryptos, it adds another drumbeat to the Biden administration's hardening attitude to crypto regulation since the spectacular collapse of Sam Bankman-Fried's FTX group last November.
Impacts
- The SEC and CFTC will use the crackdown on cryptos to assert their primacy in regulating the sector.
- More states will follow Florida in opposing a central bank digital currency as a 2024 election issue.
- Bitcoin hitting its highest value against the dollar in seven months in March raises hopes that the latest 'crypto winter' is ending.