Six U.S. senators this week sent a letter to the Treasury regarding new cryptocurrency regulation. The lawmakers urge Treasury Secretary Janet Yellen to address investor concerns around the law, which controversially requires a broad group of crypto professionals to report information for tax collection. The senators say the provision could stifle innovation at a time when clear guidance is necessary in the space, particularly as the executive branch zeroes in on illicit finance concerns. The Senate also held a hearing this week on risks to cryptocurrencies pegged to private currencies.”]
Source: https://www.cuinfosecurity.com/senators-urge-treasury-department-to-address-crypto-brokers-a-18145