The failures of crypto projects like Terra, Celsius and Voyager have taken a financial toll on many investors in the U.S. and around the world. Some invested large sums before seeing their tokens collapse in value, or having their accounts frozen.
President Joe Biden’s administration expressed concern over recent developments in cryptocurrency markets and their impact on average Americans’ financial health as it introduced a series of reports Friday outlining policy recommendations for regulating digital assets.
The comments accompany several reports issued by the Treasury Department and other agencies Friday morning , as was mandated by an executive order issued by Biden in March. These statements appear to back up the increasingly aggressive stance that Securities and Exchange Commission Chairman Gary Gensler has taken on the digital-asset industry.
The failures of projects like Terra, Celsius and Voyager have taken a financial toll on many investors in the U.S. and around the world who invested large sums before seeing their tokens collapse in value, or having their accounts frozen.
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