As per the latest news agency – The New York Times, cryptocurrency critic and the United States Senator Elizabeth Warren would be contesting for the 2020 Presidential election. After her announcement, Warren shared her plans of visiting the Iowa State which would be hosting the first presidential election in the nation in Feb’20
As of now, Elizabeth Warren is holding the position of U.S. senator and has been representing Massachusetts since her taking over the Senate’s office in 2013. She was off late in the news for her criticisms on cryptocurrencies where she expressed serious concerns of consumers, dealing in crypto trading putting themselves in jeopardy because of various scam and thefts associated with initial coin offerings or ICOs which are not very reliable in real life.
Warren while speaking at a press conference arranged by Banking Committee of Senate early this October, said that the current challenges are in how the positive aspects and benefits of Crypto world could be put in to better use, which actually could yield lots of benefits without much risk and providing protection for its users at the same time.
The Senator claimed that it was observed that more and more American consumers are falling prey to the ever-growing cryptocurrency frauds and scams. She cited that it’s the families in America that land up paying more when new firms propose lucrative deals. She believes that some Federal Reserve should be created to assess these risks associated with the volatile crypto markets. Cryptocurrency regulation is an important requirement in this current era, especially for the ever-growing industry players. Currently, the trend is such that high profile regulators target performing projects and try to harm them for their interest. Even history has witnessed, funds were misplaced especially during the electoral campaign and mass propaganda by politicians.
Early last month, U.S. Representatives Ted Budd and Darren Soto brought in to affect bills particularly aiming at prevention of price manipulation in the world of cryptocurrency. This would certainly optimize the framework of regulatory as well. Out of the two, the former bill is about prevention of possible cases of manipulation of pricing in crypto markets and its associated remedies and the latter one talks about a comprehensive study of various regulatory arrangements in and around other national jurisdictions.
Last year, early November, the Ohio state started accepting bitcoin as an option for payment of taxes. Small time businesses were able to use 20 plus cryptocurrency payment platforms to pay different kinds of taxes through an electronic portal, set up by the treasury office for the state. As of now, only businesses can make use of this particular service barring individuals who need to continue with the tradition payment systems. Some other states have tried to pass the same bill, however, were barred by the concerned state lawmakers.