You should know that those who are offering crypto asset investments or services may not be in compliance with applicable law, including federal securities laws. These investments also can be speculative, risky, and volatile.
Why are two crypto bills bringing a lot of hopes?
Two crypto bills are carrying a lot of the sector’s hopes, because they’ve made it further than any legislation to date: one House bill that would establish rules for digital assets markets and another that would set up regulations for issuing and trading stablecoins in the U.S.
Do regulators have authority to regulate cryptocurrencies?
GAO found gaps in regulatory authority over two blockchain-related products that raise consumer and investor protection and financial stability concerns. No federal financial regulator has comprehensive authority to regulate the spot market for crypto assets that are not securities.
Does the Federal Reserve have a role in addressing crypto risks?
In its agency comment letter, the Federal Reserve said it routinely engages with the other federal financial regulators on emerging risks posed by blockchain-related products and services. However, the regulators' coordination efforts have not always addressed risks posed by crypto assets in a timely manner.
