CURRENCY TRADEWARS Go Cyber: Crypto Currencies / Risks In The Markets from Nation-State Actors

Like they say: "it's a developing story" ... TOO LITTLE TOO LATE FROM THE U.S..

"The first step likely to be taken by the Treasury Department will be to issue a report with recommendations this fall.

In interviews, industry executives, lobbyists and regulators offered an outline of what they expect to be covered in these recommendations, which will form a template for potential regulations to be drafted over the coming year.

The rules, they said, will likely mandate that reserves are always liquid enough to meet redemption demands, and that the software systems handling these transactions are robust enough to avoid crashes and severe slowdowns when facing mass simultaneous transactions.

yesterday By Eric Lipton, Ephrat Livni and Jeanna Smialek Sept. 23, 2021

Largely known as a vehicle for speculation, cryptocurrency is increasingly starting to transform banking and finance and is stirring discussions over whether governments should issue digital currencies of their own to augment or eventually replace their traditional currencies.

Regulators Racing Toward First Major Rules on Cryptocurrency

Concerned about the potential for a digital-era bank run, the Treasury Department is working on an oversight framework for the fast-growing sector.

By nytimes.com |                        

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Back up to that "DEVELOPING STORY" then A WEEK AGO

Report from Makena Kelly in The Verge Last Week:

 

Treasury to issue new cryptocurrency sanctions after ransomware attacks

0 New, 6 comments

The Department could issue them as early as next week

By Makena Kelly@kellymakena Sep 17, 2021, 3:22pm EDT