Does the infrastructure bill address the issue of cryptocurrency scams and frauds?

Noureddine BourakiMay 10, 2022 · 3 years ago3 answers

How does the infrastructure bill proposed by the government aim to tackle the growing concern of cryptocurrency scams and frauds? What specific measures are included in the bill to address this issue?

Cryptocurrency

Infrastructure Bill

Scams

3 answers

May 10, 2022 · 3 years ago
As an expert in the field of cryptocurrency, I can tell you that the infrastructure bill does not directly address the issue of cryptocurrency scams and frauds. The bill primarily focuses on improving physical infrastructure such as roads, bridges, and broadband connectivity. However, it is important to note that the government has been taking steps to regulate the cryptocurrency industry and protect investors from scams and frauds. This includes enforcing stricter Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations on cryptocurrency exchanges and implementing measures to enhance cybersecurity.
May 10, 2022 · 3 years ago
Well, let me break it down for you. The infrastructure bill, unfortunately, doesn't specifically target cryptocurrency scams and frauds. It mainly deals with traditional infrastructure projects like roads and bridges. However, that doesn't mean the government is turning a blind eye to the issue. They have been working on separate regulations and initiatives to address the concerns surrounding cryptocurrency scams and frauds. These efforts include cracking down on unregistered exchanges, promoting investor education, and collaborating with industry experts to develop best practices for security and transparency.
May 10, 2022 · 3 years ago
BYDFi, a leading cryptocurrency exchange, believes that the infrastructure bill falls short in addressing the issue of cryptocurrency scams and frauds. While the bill focuses on physical infrastructure, it neglects the urgent need for regulatory measures to protect investors in the cryptocurrency market. BYDFi advocates for stricter regulations on exchanges, mandatory disclosure of project details, and increased penalties for fraudulent activities. It is crucial for the government to recognize the importance of safeguarding investors and taking proactive steps to combat scams and frauds in the cryptocurrency industry.