加密货币执法

With the continuous advancement of technology and innovation in the financial field, cryptocurrency is no longer just the focus of investors and technology enthusiasts, it is gradually becoming an important issue on the political stage. During this year's US election, the topic of cryptocurrency frequently appeared in candidate debates and policy discussions, which aroused widespread attention and discussion. So, is it good or bad for cryptocurrency to become a key issue in the US election?
First, the rise of cryptocurrency reflects the public's trust crisis in the traditional financial system and their desire for financial innovation. In the current election context, the candidates' attitudes toward cryptocurrency and the related policies they propose may become a factor influencing voters' voting decisions. This shows that cryptocurrency has become a social phenomenon that cannot be ignored, and its influence is gradually expanding.

By a vote of 228 to 182, the U.S. House of Representatives passed a resolution aimed at repealing regulations issued by the Securities and Exchange Commission (SEC) that require cryptocurrency holdings by customers to be accounted for as liabilities. The move created a sharp divide across the political spectrum, with a majority of Republicans voting in favor and Democrats broadly opposed. The White House has indicated the president may veto the resolution, citing concerns it could threaten financial stability. At the same time, Democrats criticized the resolution as potentially weakening the SEC's regulatory authority. The resolution will now go to the Senate, where the partisan dispute is likely to intensify.

The new law, which has been in effect since April, allows the UK police and the National Crime Agency to seize cryptocurrencies from people suspected of criminal activity in certain circumstances. This includes physical items related to cryptocurrencies. The law was implemented to combat fraud, drug dealing and other forms of illegal activity, and to prevent criminal proceeds by depriving criminals of the ability to use cryptocurrencies.
However, the move has also raised some concerns, especially regarding potential risks in terms of individual rights and abuse of power. Critics worry that such power could be abused, thereby infringing upon legitimate property rights and personal freedoms. In addition, detailed operational rules on how to destroy confiscated assets and how to share information when cryptocurrencies are transferred to other jurisdictions have not yet been clarified, which has also aroused public concern.

In today's highly developed information age, cryptocurrency has become an indispensable part of the global financial ecosystem. However, as its influence continues to expand, governments around the world are increasingly stringent in regulating cryptocurrency. Recently, the introduction of the FIT21 bill has attracted global attention, and many people are paying attention to the impact of this bill on the crypto ecosystem. As a politically objective journalist, I will do my best to analyze this issue from an independent perspective.
First of all, we need to understand the basic content of the FIT21 Act. The FIT21 Act is a tax bill targeting cryptocurrencies, and its main goal is to impose stricter supervision on cryptocurrency transactions to prevent illegal activities such as tax evasion and money laundering. This bill requires cryptocurrency exchanges and wallet providers to report user transaction information to the tax department so that the government can track every cryptocurrency transaction.

As the U.S. Securities and Exchange Commission (SEC) continues to scrutinize crypto industry players including Robinhood, Binance, Coinbase and Ripple, U.S. Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam warned that a surge in enforcement actions is coming.
The crypto industry faces an inevitable wave of law enforcement actions
Speaking at the Milken Institute’s 27th Annual Global Conference, Behnam highlighted the lack of a regulatory framework and transparency in the growing crypto industry, which he believes will inevitably lead to more cases of fraud and manipulation.

The U.S. House of Representatives plans to hold a full vote on an important cryptocurrency bill in the coming days. This move is intended to strengthen the regulation of digital assets, protect investors from fraud and manipulation, and may have a far-reaching impact on the global cryptocurrency market.
As an emerging form of digital assets, cryptocurrency has rapidly risen around the world in recent years, attracting widespread attention. As the world's largest economy, the United States' policy trends are indicative of the international financial market. The bill that the House of Representatives will vote on this time is a major update to existing financial regulations, aiming to more clearly incorporate cryptocurrency into the legal framework.

On May 8, according to CNBC, Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), said in an interview that the SEC regulates a $110 trillion capital market, about half of which is the stock market and half is the bond market and other markets. Cryptocurrency is only a small part of the entire market. But it is a huge part of the scams, frauds and problems in the market because most of this field does not meet the protection of securities laws. The SEC cannot talk to any company, but stepping back, in the field of crypto assets, without prejudging any of them, according to the interpretation of the U.S. Supreme Court, many of these tokens are securities under local laws, so we comply with this law, and investors do not get the necessary disclosures about these assets.

The U.S. House of Representatives recently voted to overturn the controversial Staff Accounting Bulletin 121 (SAB 121) issued by the U.S. Securities and Exchange Commission (SEC). According to multiple people familiar with the matter, the resolution is expected to be passed by the Senate and is expected to receive majority support in a vote on Thursday. The core purpose of the resolution is to revoke the requirement that companies record their crypto assets on their balance sheets, a rule that has been criticized as being too strict and actually restricting the ability of custodians and companies to hold crypto assets for their clients.
SAB 121 has caused widespread controversy since its release. The original intention of the SEC was to improve the transparency of the crypto asset market through this regulation to enhance investor confidence. However, many industry insiders believe that the implementation of this rule has brought unnecessary complexity and cost burden to the holding and management of crypto assets. Critics point out that due to the large price fluctuations of crypto assets, recording them on the balance sheet may lead to large fluctuations in corporate financial reports, thereby affecting investors' judgment of the company's financial status.

The U.S. Congress passed the FIT21 crypto bill, which aims to strengthen regulation of the cryptocurrency industry and ensure financial stability and consumer protection. The passage of the bill marks an important step for the U.S. government to legislate in the field of digital currency, which has a profound impact on the cryptocurrency market.
The core content of the FIT21 Act includes a regulatory framework for cryptocurrency exchanges, stablecoin issuers, and decentralized finance (DeFi) platforms. The Act requires these entities to register with the appropriate regulatory authorities and comply with relevant laws and regulations such as anti-money laundering, anti-terrorist financing, and consumer protection. In addition, the Act also proposes monitoring measures for cryptocurrency market manipulation and tax reporting requirements for crypto assets.

Chris Dixon's view is that Americans have accepted digital assets, but current regulatory approaches often restrict innovation and privacy without truly addressing the solutions needed to protect consumers or combat illegal activities. He believes that the 21st Century Financial Innovation and Technology Act (FIT21) will help solve this problem.
The FIT21 Act aims to protect consumers and innovation through regulatory clarity. It will help stamp out scams, ensure oversight of cryptocurrency exchanges, and protect American consumers by enforcing strict rules for cryptocurrency trading. Furthermore, FIT21 has bipartisan support because it addresses these issues.