According to the proposal presented by Joe Biden, there will be greater controls over the marketing and use of cryptocurrencies after addressing certain legal frameworks, which is expected to capture more revenue from the sector. It is also contemplated greater funding for the Department of Justice, in order to support the opposite of Resistance, it is a threshold that crypto’s price doesn’t fall below. lines of work associated with financial cybercrime.
U.S. President Joe Biden, published Monday the new budget proposal contemplated for next year 2023, a document of more than 150 pages, where he devoted a space in which he contemplates modernizing rules applicable to operations with digital digital technologies are these electronic tools that have the ability to generate, store or even process data. assets.
Budget proposal contemplates changes to address a place where cryptocurrency can be sent to and from, in the form of a string of letters and numbers. the crypto sector
According to information published in the budget proposal submitted by the Biden administration, the reforms could help the state generate an additional $11 billion in revenue by 2032, while expanding the state’s capacity to provide more revenue to the state by the year 2032. Department of Justice (DoJ) to counteract the threats inherent to this ecosystem, including ransomware ransomware is a type of malware used by hackers to steal or encrypt their victims’ files to extort them for a ransom in exchange for file decryption or restoration. attacks and the use of cryptocurrencies for activities such as money laundering.
According to reports published by various media, among the rules considered for the approach to digital assets is the update / modification of the rules for the markets. The aim here is to include cryptocurrencies in their regulations, so this involves requiring reports from certain taxpayers, greater control over accounts with foreign links, exchanges to provide information on suspicious transactions, as well as the fact of including them in provisions applicable to trading / securities lending.
While the state estimates that these changes could result in $11 billion in revenues over the next nine years, shorter-term estimates are that more than $4.8 billion would come in the first year after the proposed changes are implemented.
Strengthening security the term securities refers to a fungible and tradable financial instrument that carries a type of monetary value.
With regard to bolstering cybersecurity, the Biden administration is looking to further expand the budget of the U.S. Department of Justice, seeking to allocate an additional $52 million over and above the capital capital is most commonly defined as the large sum of money you would use to invest. originally envisioned.
Al explorar a detalle, estos USD $52 millones adicionales serían utilizados para contratar una mayor cantidad de agentes, mejorar la capacidad de respuesta del DoJ, as well as to strengthen its intelligence, investigative and analytical procedures.
With regard to the latter, the document reads:
“These investments are in line with the agency’s managed strategy against ransomware-type attacks… The administration emphasizes disruptive activity and combating the misuse of cryptocurrencies.”
Alineados con los esfuerzos regulatorios
Las consideraciones dispuestas en el documento presupuestario vienen a lugar poco después de que el presidente Biden firmase una orden ejecutiva, donde solicitaba a todas las organizaciones estatales unir esfuerzos para evaluar y analizar al ecosistema de las monedas digitales, haciendo énfasis principalmente en la protección de las personas que operan con dichos activos.
The need for the executive order arose because of the regulatory disagreements among various entities, most notably the aspirations of the Securities and Exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. Commission (SEC) against the criteria of the Commodity Futures a futures contract is a standardized legal agreement to buy or sell a particular commodity or asset at a predetermined price at a specified time in the future. Trading Commission (CFTC).
Since last year the Biden administration has been very attentive to the incidence of digital currencies in local territory, paying special attention to crimes and irregularities perpetrated by hackers and cybercriminals through this type of assets. It highlights the ransomware attack perpetrated against entities such as Colonial Pipeline The oil prices in the U.S., which generated strong inconveniences in the fuel supply in several regions of the U.S. nation.
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Version by Angel Di Matteo / DiarioBitcoin
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