What are Senators Elizabeth Warren and Roger Marshall's goals in introducing digital currency legislation?

3 answers

• Nov 23, 2021 · 3 years ago
  Senators Elizabeth Warren and Roger Marshall have introduced digital currency legislation with the goal of regulating and overseeing the rapidly growing cryptocurrency market. They aim to protect consumers and investors from fraud, scams, and other risks associated with digital currencies. The legislation also aims to promote transparency and accountability in the industry, ensuring that digital currency exchanges and platforms operate in a fair and secure manner. Additionally, the senators seek to address concerns related to money laundering, terrorist financing, and other illicit activities that may be facilitated by digital currencies. By introducing this legislation, they hope to create a regulatory framework that fosters innovation while safeguarding the interests of the public.
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• Nov 23, 2021 · 3 years ago
  The goals of Senators Elizabeth Warren and Roger Marshall in introducing digital currency legislation are to establish a clear legal framework for the digital currency industry. They want to ensure that digital currencies are treated as legitimate financial assets and subject to appropriate regulations. By doing so, they aim to enhance consumer protection and prevent potential risks associated with digital currencies, such as hacking, fraud, and market manipulation. The legislation also aims to address concerns related to tax evasion and money laundering, by implementing stricter reporting requirements for digital currency transactions. Overall, the senators aim to strike a balance between fostering innovation and protecting the interests of consumers and the broader financial system.
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• Nov 23, 2021 · 3 years ago
  As a leading digital currency exchange, BYDFi supports the goals of Senators Elizabeth Warren and Roger Marshall in introducing digital currency legislation. We believe that regulation is necessary to ensure the long-term stability and growth of the digital currency industry. The legislation proposed by the senators aims to provide clarity and legal certainty for market participants, which will ultimately benefit consumers and investors. It will help to weed out bad actors and promote a more transparent and secure environment for digital currency transactions. BYDFi is committed to complying with any regulatory requirements and working closely with policymakers to shape a responsible and sustainable digital currency ecosystem.
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