Biden Administration Drafting Bitcoin Regulation, Why It Could Be Approved Soon

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Fox News correspondent Charles Gasparino claimed via his Twitter handle that Joe Biden’s administration is currently working on a “regulatory approach” to Bitcoin, cryptocurrencies, and the crypto industry in general. Citing Wall Street executives close to the Biden administration, Gasparino clarified that the new regulations are in an early stage. Deputy Treasury Secretary Wally Adeyemo will apparently have a major role in the crypto regulatory framework to be headed by Secretary of the Treasury Janet Yellen. As reported by Bitcoinist, on many occasions Yellen has issued negative comments on Bitcoin and cryptocurrencies due to their alleged primary use for “illegal activities”. Data from analytics firm Chainalysis offers a different perspective and concludes that less than 1% of BTC transactions can be attributed to “criminal use”. BREAKING — @JoeBiden Admin is in the early stages of developing a regulatory approach to the booming crypto biz, sources tell @FoxBusiness. Will discuss w…

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