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Presidential Candidate Michael Bloomberg Proposes ‘Clear Regulatory Framework’ For Cryptocurrency
Summary: Presidential candidate Michael Bloomberg is proposing the development of a regulatory framework for cryptocurrencies in a new financial regulation plan. On Tuesday Bloomberg's campaign published a financial reform plan. The new plan advocates for increased consumer protection measures and a stronger financial system. More specifically the proposal recommends requiring financial institutions to monitor risk exposure, ...
Presidential candidate Michael Bloomberg is proposing the development of a regulatory framework for cryptocurrencies in a new financial regulation plan.
On Tuesday Bloomberg's campaign published a financial reform plan. The new plan advocates for increased consumer protection measures and a stronger financial system.
More specifically the proposal recommends requiring financial institutions to monitor risk exposure, recording all financial transactions in a centralized database, strengthening the Consumer Financial Protection Bureau and a number of other recommendations. This proposal also suggests the creation of a regulatory sandbox for startups and "providing a clear regulatory framework for cryptocurrencies."
By Ramsey Baker
Tags: Cryptocurrency,Michael bloomberg,Presidential candidate,Regulation
Link: Presidential Candidate Michael Bloomberg Proposes ‘Clear Regulatory Framework’ For Cryptocurrency [Copy]
