Note: I am impartial on private crypto. Think this through: crypto was created to be “ anonymous “, governments hate it.
The EU is the only one that has passed regulations on its use ( besides China that has banned it).
The US House bill still has to vote on it. They will pattern the EU regulations.
The EU regulations here:
“ EU’s cryptocurrency regulation
The European Union introduced the world’s first comprehensive cryptocurrency regulations in May 2023, known as the Markets in Crytpo-Assets Regulation (MiCA).
The European Security and Markets Authority is currently in a consultation process with the public on a number of measures.
Any company issuing or trading cryptocurrency will need a licence, and from January 2026 all service providers will have to obtain the name of senders and beneficiaries, whatever the amount being transferred. Further, any self-hosted wallets holding over 1,000 euros will need to undergo wallet ownership verification for transactions.…”
https://www.weforum.org/agenda/2024/05/global-cryptocurrency-regulations-changing/
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If private crypto must be licensed and all ownership and trades be reported to the government, why own it? I do not think government oversight and regulations on crypto is a good thing, it should be like cash and gold,( both Tier One assets) providing anonymity - …..our government WILL move to TAX all crypto- “regulating “ it means taxation and loss of privacy.
“Private crypto” was always a sales gimmick—not happening on this planet.