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. They indicate that they are prepared to push additional legislation that narrows the reporting scope. The Senate also hosts a hearing on a range of risks related to cryptocurrencies pegged to fiat currencies.”]
Source: https://www.bankinfosecurity.com/senators-urge-treasury-department-to-address-crypto-brokers-a-18145