Harsh intervention from the US government to the cryptocurrency draft!
The US government removed two important provisions concerning cryptocurrencies from the National Defense Authorization Act (NDAA). The removal of provisions that could affect the future of the sector from the draft text once again revealed that there is no consensus on which institution will set the crypto rules in the country.
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The first provision the government removed from the draft concerns the US Treasury Secretary.
The old bill authorized the Treasury Secretary to conduct systematic risk studies on the conditions under which traditional finance would use crypto.
The second provision removed from the NDAA was on crypto-mixing platforms and anonymous transactions, which are frequently used by hackers.
According to the draft, a detailed report would have been prepared on the volumes of these platforms and related transactions, which are subject to sanctions in the US, and various studies would have been conducted for common interstate legislation.
The crypto sector has had a difficult year in the US
Crypto companies operating in the US are leaving behind a difficult year. Coinbase, Kraken, Binance and many other industry players have faced investigations in the country.
The crypto world expects the SEC to approve spot Bitcoin exchange-traded funds (ETFs) in the first weeks of 2024.
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