RATE Group | US Bills Seeks to Protect Cryptocurrency Investors from Market Manipulation
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US Bills Seeks to Protect Cryptocurrency Investors from Market Manipulation

07 Dec US Bills Seeks to Protect Cryptocurrency Investors from Market Manipulation

Posted at 22:39h in Bitcoin News by

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Congress bitcoin blockchain cryptocurrency

Two US congressmen introduced bipartisan legislation designed to prevent cryptocurrency price manipulation and position the United States as a leader in the crypto industry.

Democrat Rep. Darren Soto of Florida and Republican Rep. Ted Budd of North Carolina unveiled the following bills:

  • Virtual Currency Consumer Protection Act. This bill directs the CFTC to explain how price manipulation occurs and to recommend regulatory changes to prevent it.
  • Virtual Currency Market and Regulatory Competitiveness Act. This law directs the CFTC to conduct a comparative study of crypto regulations in other countries and to recommend ways to make the United States more competitive by providing regulatory clarity and finding alternatives to burdensome laws that impede innovation.

Lawmakers: Crypto Can Drive Economic Growth

In a joint statement released December 6, Rep. Darren Soto and Rep. Ted Budd underscored the “profound potential” of cryptocurrencies and blockchain, the technology…

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