Does US DoJ set the record straight with “Cryptocurrency: An Enforcement Framework”?
The US Department of Justice (DoJ) released “Cryptocurrency: An Enforcement Framework” on 8 October. This release marks an inflection point in the crypto industry, and warrants our attention. This 83-page document will set the tone for DoJ enforcement of American regulation as it touches cryptocurrency for the foreseeable future no matter who wins the US election on 3 November. We can say this with some certainty as cryptocurrency has not featured highly in either of the frontrunners’ campaigns, and neither of them are expected to push for a change of policy regarding crypto.
Here at Tagion, we are looking forward to digging into the details of the report because from our first glance, it seems that the framework takes into account that digital currency is here to stay. The Attorney-General’s Digital Task Force wrote the report within a structure that clearly lays out what is legal, what is not, and how DoJ will deal with each. Did they succeed in adding clarity to the sometimes murky waters of the cryptocurrency pool? How much of this will affect open finance platforms such as Tagion? We’re going to take the next three weeks, and find out.