Treasury Secretary Janet Yellen recently called for more government regulation to police the proliferation of cryptocurrency and ward off fraudulent or illicit transactions.
One potential benefit is that users would get documentation of their crypto dealings for use in filing taxes just as they would for transactions in stocks and bonds, Yellen said on April 7 in her first remarks about cryptocurrency since President Joe Biden signed an executive order on digital assets.
Over the next six months, Treasury will work with the White House and other agencies to develop reports and recommendations on digital currencies, Yellen added. Read more.