Washington takes aim at the booming crypto industry

WASHINGTON – When Federal Reserve Chair Jerome Powell said last week that he is not looking to ban cryptocurrencies, a wave of relief washed over its investors. The price of bitcoin, the largest of the digital currencies, surged more than 10% to its highest level in nearly two weeks.

But behind the scenes, there’s a gathering fear: After allowing the sector to grow from an obscure project to a $2 trillion behemoth in little more than a decade, Washington regulators are now preparing to unleash a torrent of rules aimed at bringing crypto to heel.

Read this article in full By Tory Newmyer and Jacqueline Alemany The Washington Post

Image by xresch from Pixabay

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