President Joe Biden The administration has called for stronger regulatory controls Bitcoin BTC/USD and other cryptocurrencies in response to scams, potential fraud, and the collapse of the money Sam Bankman-Fried ftx ftt/usd exchange and sister company, quantitative investment firm Alameda.
White House Press Secretary Karine Jean-Pierre Told“Without proper oversight, crypto risks harm everyday Americans, so this is something we see as an important issue, but the most recent issues further underscore and prove that prudential oversight of cryptocurrencies Why is it really needed?
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The statement follows a recent gathering of the Group of 20 (G-20), a “strategic multilateral platform that links the world’s major developed and emerging economies.” The G20 leaders met in Bali for a two-day summit hosted by the Indonesian G20 Presidency.
Their meeting had the theme of “Recover together, recover stronger” and the leadership in the G20 supported the idea of regulating digital assets.
At the summit, the Balinese leadership said, “We will remain agile and flexible in our fiscal policy response, ready to adjust to changing circumstances as necessary.” On their website, they say, “The leaders are committed to a human-centered, inclusive, fair, sustainable approach that leads to greater social justice, decent work, and social security for all.”
G20 members represent more than 80 percent of the world’s GDP, 75 percent of its international trade, and 60 percent of the global population.
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Photo: whitehouse.geo and bitcoin image by Reto Schewiler from Pixabay