Cryptocurrencies
White House Wants Regulators to Find Fraud, Abuse in Crypto Trading
- Recommendation comes after months of study by federal agencies
- President Biden directed governmentwide crypto review in March
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The White House wants American financial watchdogs to do more to weed out fraud and abuse in crypto trading as the US inches ahead with plans for the asset class.
The Biden administration called on the Securities and Exchange Commission and other regulators to “aggressively pursue investigations and enforcement actions against unlawful practices.” The recommendation is part of a new White House document that it billed as a “comprehensive framework for responsible development of digital assets.”