United States senator and cryptocurrency critic Elizabeth Warren has declared her bid for President in 2020, the New York Times reported on Jan. 1. Following her announcement, Sen. Warren made plans to go to the state of Iowa that hosts the primary presidential caucuses within the country in Feb 2020.
Warren is that the senior U.S. senator from Massachusetts and has held office within the Senate since 2013. The legislator is thought for her criticism of cryptocurrencies, having repeatedly expressed issues that cryptocurrency customers may be hurt by scam initial coin offerings (ICOs) whereas conjointly stating that crypto is “easy to steal.”
Speaking at a Senate Banking Committee hearing in Oct, Warren declared that “the challenge is how to nurture productive aspects of crypto with protecting customers.” The senator conjointly outlined that american customers are falling victim to cryptocurrency scammers. Sen. Warren reiterated her critical stance in November, stating:
“It’s american families that end up paying the price once any regulator says we’re more curious about Wall Street. What i feel is that we'd like a [Federal Reserve] that's engaged in observance where risk builds up within the system. That’s the Fed’s job — that’s not the work of american families.”
Regulation of the cryptocurrency area may be a matter of a lot of concern for industry players. Today, capital investor Fred Wilson wrote in a blog post that he's particularly concerned regarding the “actions brought by misguided regulators who can aim at high quality projects and harm them.”
Wilson conjointly suggested that Donald Trump will be impeached and removed from the White House by the end of 2019 following a report to be issued by Robert Mueller that outlines an alleged history of illicit activities by the president and his electoral campaign.
On Dec. 6, U.S. Representatives Darren Soto and Ted Budd introduced 2 bills aimed toward preventing cryptocurrency value manipulation and optimizing the regulative framework. the primary bill outlines doable situations of price manipulation in crypto markets and advances remedies, whereas the second imply a comparative study of regulative arrangements in other national jurisdictions.
In November, the state of Ohio began accepting cryptocurrency as a payment choice to pay taxes. Businesses are going to be able to pay 23 different taxes using BTC through an internet portal that has been set up by the state treasury office. As it stands, people won't be able to use the service to pay private taxes.
Other U.S. states have tried to pass bills that may enable taxes to be paid using cryptocurrency. However, these bills are stopped in their tracks by state lawmakers.
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