The Biden Administration has posted an official weblog detailing its roadmap to mitigate the dangers of cryptocurrencies.

The roadmap begins by citing the 2022 implosion of LUNA/Terra and the next catastrophic contagion throughout the business that led to numerous bankruptcies. Included on this reference is the bankruptcy of FTX, saying that, “Many on a regular basis traders who trusted cryptocurrency corporations—together with younger folks and folks of shade—suffered critical losses, however, fortunately, turmoil within the cryptocurrency markets has had little detrimental impression on the broader monetary system thus far.”

Source link