The United States has begun developing new laws and regulations regarding the crypto industry at home and abroad
To provide some greater control over its taxpayers' virtual assets, the US government has made changes to its latest draft of the 1040 Form 2022 federal personal income tax return. The latest edition has significantly expanded the issue of cryptocurrency transactions in order to collect information about digital assets, where, in addition to virtual currency, fungible tokens have been added.
In order to begin total control, the United States began to develop new Laws and regulations regarding the crypto industry at home and abroad. The first thing the government announced was that it plans to issue a Central Bank digital currency in the near future.
In the spring of 2022, the presidential administration issued an order requiring the Treasury, the Attorney General's Office, the Department of Commerce, the Homeland Security Service and the National Intelligence Service to submit a report on the regulation of cryptocurrencies at home and abroad by the fall. The order also focuses on possible cooperation with foreign governments and agencies.
Following this order, the US Securities and Exchange Commission announced its intention to register and regulate cryptocurrency exchanges with increased attention to investor risk. Around the same time, restrictive measures were established as part of sanctions packages against the Russian Federation and the Republic of Belarus, which also affected the crypto industry and a ban on transactions for Russians.
Source: Telegram channel “Business in America”
