US regulators aim for greater legal clarity surrounding cryptocurrency
American regulators may immediately offer more insight into the legality of the Cryptocurrency transaction. Bloomberg reported the Federal Reserve, Federal Deposit Insurance Corporation (FDIC) and the currency supervisor office (OCC) has shared a road map of their Crypto priority for 2022, and they mainly focus on “greater clarity” around the law. Transaction status. This might include everything starting from the release of Stablecoin to loan guarantees and the existence of Crypto on the company’s balance sheet.
Three agents also hope to learn how they can implement capital and bank liquidity standards to Bank US organizations. Roadmap is not locked in the organization saying they might overcome other problems because the market changes.
The outline follows the Crypto “Sprint” policy wave that helps decide on regulatory priorities for the next year. Reserves, FDIC and OCC aim for the shared foundation that includes risk showing and determining the usefulness of existing rules.
This roadmap may not lead to a concrete strategy. There is no guarantee this will work in supporting Crypto holders. The US regulation body has historically mistakenly on the side of caution, and it will not be surprising if the Cryptocurrency user must contribute again or even stop certain activities to stay on the right side of the law.
