White House Reviewing Crypto Regulation To Ensure Traders Can ‘Dogecoin to Their Heart’s Content’

The Biden administration is examining new ways to regulate Bitcoin and cryptocurrency.

According to a new report in the Washington Post, White House officials are being briefed by the Treasury Department about cryptocurrency risks.

They’re looking at how to ensure the industry is properly enforced without stifling innovation or damaging the markets.

“Administration officials are discussing whether guardrails on cryptocurrency can be imposed while still allowing investors to ‘dogecoin to their heart’s content.'”

Anonymous sources say potential “gaps” in oversight related to the crypto market are being studied in case they could be used to finance illicit or terrorist activities.

The recent volatility in digital assets is also raising concerns about whether average investors purchasing cryptocurrency need government protections, although federal regulators don’t believe the large swings in the crypto markets will threaten the broader stability of the financial markets.

The White House and the Treasury Department are also publicly backing a new plan to target tax avoidance through cryptocurrency.

The plan would beef up staffing at the IRS and upgrade the agency’s technology to better track and enforce crypto transactions.

Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Elena11/imagedj