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White House Calls on Congress to ‘step up its efforts’ on crypto regulation

White House Calls on Congress to ‘step up its efforts’ on crypto regulation

Four senior U.S. officials in the Biden administration published a statement on Friday urging Congress to expand regulators’ powers to prevent misuses of customers’ assets and to mitigate conflicts of interest.

Other suggestions for Congress in the statement included strengthening transparency and disclosure requirements for crypto companies, strengthening penalties for violations of illicit-finance rules, and working more closely with international law enforcement partners.

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