The Joe Biden team seems to be filled with regulators distrustful of the whole cryptocurrency industry – as there are new signals that the US regulators are aiming to ‘rein in’ the crypto industry by establishing collaborations between agencies.
US financial authorities have set their eyes on the crypto market and are gearing up to regulate it more actively, given the increasing concern that a lack of proper oversight risks harming savers and investors. However, this may take time, as the country’s regulators are yet to find out who has the legal authority to control the industry, per the Financial Times (FT).
Michael Hsu, the newly appointed Acting Comptroller of the Currency, wants the US officials to work together to set a “regulatory perimeter” for crypto assets.
