Credit: Nuthawut/Adobe Stock Cryptocurrency at a Regulatory Crossroads in New York
Cryptocurrency's widespread adoption is limited, in part, by an uncertain, still developing regulatory framework surrounding it. State banking regulators historically played a significant role in regulating crypto, but more recently, state attorneys general are taking a more active role in the cryptocurrency regulatory and enforcement landscape. This article discusses that landscape.
December 02, 2021 at 10:00 AM
9 minute read
Cryptocurrency's market cap reached $2.7 trillion this month—more than doubling in less than a year. In September, El Salvador adopted Bitcoin as legal tender in an effort to increase financial inclusion, innovation, and tourism. And this month, New York City's next mayor, Eric Adams, pledged to convert his first three mayoral paychecks to Bitcoin, and he wants all New Yorkers to have the option to do the same. As part of his effort to position the city as a cryptocurrency leader, Adams has promised to take a "look at what's preventing the growth of Bitcoin and cryptocurrency in our city."
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