It is a well-known fact that US politicians don’t like bitcoin very much. Particularly the Federal Reserve governor still sees plenty of problems, primarily due it facilitating illicit activities.
In a recent meeting, the bitcoin debate was reopened once again.
As regulators prepare to take a closer look at cryptocurrencies, such hostile comments aren’t entirely unexpected.
Federal Reserve Governor Lael Brainard warned about the use of bitcoin in illicit activities.
It is a well-known fact that cryptocurrencies are the most favored payment methods on the darknet and underground marketplaces.
Brainard explains how over a quarter of bitcoin users are associated with illegal activity.
That would, according to the Fed’s findings, encompass nearly half of all BTC transactions on the network every single day.
Further adding to these problems is the fact of mot exchanges not requiring KYC and AML verification.
That particular aspect appears to be a bit of a stretch, however.
A lot of trading platforms enforce these requirements, to much dismay of their customers.
How these remarks might affect crypto regulation in the US, remains to be determined.
There are plenty of conflicting results regarding the use of bitcoin in the shadow economy.
It seems safe to assume that governments will remain hostile toward cryptocurrencies for some time to come.
The team behind Starknet has introduced a new token standard aimed at solving one of…
In a move that highlights the growing race to build infrastructure for autonomous artificial intelligence,…
Prediction market platform Polymarket has entered a new partnership with Palantir Technologies and artificial intelligence…
The Ethereum Foundation has begun staking part of its treasury, marking a significant step in…
Fresh reports circulating in the crypto space suggest that Wei Jiequan, better known as Wilson…
The infrastructure powering autonomous AI agents on Ethereum is slowly coming together. Payments, trust layers,…