Concerns rise over lack of cryptocurrency regulations
Mike Caldwell, a software engineer, holds a 25 Bitcoin token at his shop in Sandy, Utah. Bitcoin is an online currency that allows people to make one-to-one transactions, buy goods and services and exchange money across borders without involving banks, credit card issuers or other third parties. AP Photo/Rick Bowmer
As cryptocurrency booms, consumer advocates are worried about the lack of federal regulations. There are also environmental concerns about all of the computing power and energy needed in the cryptocurrency, and in the absence of these federal regulations, companies and lobbyists have their sights set on state legislatures.
The 21st was joined by a journalist who's been following the story.
GUEST:
David Yaffee-Bellany
Reporter covering cryptocurrency and fintech, The New York Times
Across the U.S., the crypto industry is working state by state to engineer a more crypto-friendly legal system. https://t.co/DAEUOuwT0x
— NYT Business (@nytimesbusiness) April 11, 2022
Prepared for web by Owen Henderson
Help shape our coverage on The 21st by joining our texting group and answering weekly questions. To join, text “TALK” to 217-803-0730 or sign up with your phone number below: