The US authorities are concerned with the cryptocurrency boom in the global market and thus consider new ruling to tighten control over the new assets, according to the news reports.
Leading parties in the US Senate and House of Representatives show an ever-increasing thirst for the struggle with the risks that cryptocurrency brings to investors and financial system, commented officials.
At present, the virtual currency stands in the so-called legal grey area and become subject to the regulation of SEC, CFTC, US Treasury, Federal Reserve or federal authorities in certain cases.
Even conservative Republicans that stand for free market agree that the crypto market may require regulation if digital coins create a threat to US economy.
According to the reports, US officials worry about speculative trading and investments in digital coins. Some of them call for regulation of this sector like securities market to provide investors in cryptocurrency with SEC protection.
Cryptocurrencies are long-standing assets, though the speculations have intensified significantly and the number of fraud schemes has hiked lately.
Besides, hackers have also become more active when the financial markets are highly volatile. As it was reported, after the hack attack, Tokyo-based Coincheck lost coins for $530 million.
The most famous digital currency – bitcoin – more than halved in early 2018 after a 1,300% leap.
The regulators started raising alarms worldwide. They note that the cryptocurrency makes money laundering and terrorist funding easier as well as harm customers and undermine the confidence in the global financial system.