U.S. Treasury Pushing For Significant Crypto Regulation

  • The U.S. Treasury is expected to seek sweeping regulations to address cryptocurrency fraud and crypto scams.
  • Hackers stole about $1 billion in crypto between January 2021. and March 2022, though Treasury said crypto doesn’t pose a threat to the “broader financial system.”
  • “We mostly see a predatory model similar to what we saw in the run-up to the 2008 financial crisis,” Americans for Financial Reform crypto specialist Mark Hays told The Washington. Post. “We hope the report finds a way to communicate the scale and severity of that potential harm.”