The White House has unveiled a roadmap to reduce risks associated with the wider cryptocurrency industry. The Biden Administration has posted an official blog detailing its roadmap to mitigate the risks of cryptocurrencies. The roadmap starts by citing the 2022 implosion of LUNA/Terra and the subsequent catastrophic contagion within the industry that led to various bankruptcies. Included in this reference is the bankruptcy of FTX, saying that, “Many everyday investors who trusted cryptocurrency companies—including young people and people of color—suffered serious losses, but, thankfully, turmoil in the cryptocurrency markets has had little negative impact on the broader financial system to
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Author: coinmaker