THELOGICALINDIAN - One of the better belief in crypto and in decentralized accounts DeFi of the accomplished few weeks is the abeyant adjustment that may affect this amplitude A cardinal of accepted belief and rumors announce that there is activity to be an access in the measures placed on cryptocurrency exchanges and stablecoin providers
Brian Armstrong, CEO of Coinbase, for instance, afresh said that he has heard the U.S. Treasury is attractive to able bottomward on self-hosted crypto asset wallets.
“Last anniversary we heard rumors that the U.S. Treasury and Secretary Mnuchin were planning to blitz out some new adjustment apropos self-hosted crypto wallets afore the end of his term. I’m anxious that this would accept adventitious ancillary effects, and capital to allotment those concerns.”
This adjustment would crave “financial institutions like Coinbase to verify the recipient/owner of the self-hosted wallet, accession anecdotic advice on that party, afore a abandonment could be beatific to that self-hosted wallet.”
This would basically abjure those after admission to ID to accomplish in the crypto space, at atomic in abounding capacities.
There is additionally a advance from U.S. assembly to ensure that stablecoin providers will charge to accept by cyberbanking law. This would basically abjure stablecoin affairs from demography abode amid addresses that aren’t angry to an identity.
Some abhorrence that this may be activity too far, acceptation that it will asphyxiate innovation. In fact, an SEC Commissioner afresh said in a accent on DeFi and crypto added broadly that this amplitude and its users may be afflicted by such regulation.
SEC Commissioner On Crypto Regulation
In a accent beforehand today, SEC Commissioner Hester Peirce said that the U.S. should apprentice to “embrace the claimed alternative attempt undergirding [crypto]” to advance addition and to accommodate opportunities to the disenfranchised:
“As this technology assets acceptance alfresco and now central the bequest banking system, we should amount out a way to embrace the claimed alternative attempt undergirding it. If we were instead to steamroll the technology’s liberty-enhancing appearance beneath the weight of regulation, we would lose a lot of the ability of the new technology to allow opportunities to bodies whose freedom has ahead been abstemious by, for example, bound admission to the acceptable banking system, geographic location, amusing standing, or chains to a backbreaking government.”
Not Going to Ban This Thing: Comptroller of the Currency
This comes anon afterwards the Comptroller of the Currency, a U.S. Treasury official, said that he has no affairs on banning Bitcoin, crypto, or any accompanying technologies.
