US authorities will receive more than $11 billion in taxes from cryptocurrencies over ten years

Also, the US government will increase the Department of Justice’s budget as part of its combat against cryptocurrency crimes

29.03.2022 - 11:40

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What’s new? The United States plans to raise $11 billion in taxes from digital assets by 2033. According to the budget draft of the States, the Department of Justice will receive an additional $52 billion to combat cryptocurrency crimes. The document envisages a stronger role for the Financial Stability Oversight Council for digital assets.

Source: Forklog.com

US budget draft

Cryptocurrency situation in the United States. On March 9, the White House released a government-wide strategy for regulating the cryptocurrency industry. The executive order sets national policy on digital assets in several areas: consumer and investor protection, financial stability, illegal use of cryptocurrencies, US leadership in the global financial system.

US senators have already begun work on a bill on the regulation of cryptocurrencies. The politicians will develop a system of digital asset classifications and prescribe the basics of cybersecurity. US Treasury Secretary Janet Yellen recognized the benefits of cryptocurrencies. In her view, digital assets are a big innovation in the field of payments.

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