U.S. presidential candidate Michael Bloomberg is proposing rules that will clarify the status of crypto assets within the financial system. Bloomberg intends for these to offer greater government oversight as well as consumer protection.
BLOOMBERG WILL LEGITIMIZE CRYPTO
Bloomberg has made these statements in his just-published Financial Reform Policy. Although not the first candidate to support crypto regulation, Bloomberg is by-far the most credible given his background in the financial sector. The other candidate, Andrew Yang, recently dropped out of the race.
Bloomberg’s plan states:
Cryptocurrencies have become an asset class worth hundreds of billions of dollars, yet regulatory oversight remains fragmented and undeveloped. For all the promise of the blockchain, Bitcoin and initial coin offerings, there’s also plenty of hype, fraud and criminal activity. Mike will work with regulators to provide clearer rules of the game