US Government Wants Tighter Control of Crypto Currencies
September 16, 2021
11
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1:01Now PlayingUS Government Wants Tighter Control of Crypto Currencies
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as posted by the channelIt seems like many are making millions of cryptocurrencies like Bitcoin, but there are several issues in the crypto world that are unaddressed. For example, regulation, a crypto tax and others. Check out the video to learn more.
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The United States government is going after cryptocurrency. The US government is concerned that crypto is being used to move money around freely and so could be used to fund illegal activities.
Also, the government wants it cut. Crypto is outside of the traditional system that often escapes taxation. There are several proposals currently on the table for how to tax cryptocurrencies. With a crypto tax, the government will get a cut.
Then there are the pump and dump schemes. There are many $^!* coins that will never appreciate in value. People are getting ripped off. Additionally, crypto is still an extremely volatile currency.
Any big moves by the government can drastically affect the value of Bitcoin and other cryptocurrencies.
Does this mean it’s the end of cryptocurrencies? Let us know in the comments below!
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