Executive Brief The US regulation of digital currencies is out of date, impractical, and damaging to a potentially lucrative economy. The lack of unity in state regulations has created an unworkable system that makes the operations of Fintech (Financial Technology) companies complicated and confusing. A unified and clear regulatory policy would clear these muddy waters and benefit the digital currency industry, and have a positive impact on the American economy as a whole. Read the full story below. The US Once Led the Bitcoin Revolution Every country is feeling their way through this relatively new digital currency, but America was initially proactive in the digital currency industry. For example, the US Senate was the first to conduct hearings on Bitcoin in 2013. The IRS was the first to release information on taxes in relation to Bitcoin, and FINCEN (Financial Crimes Enforcement Network) was the first crime agency to make any reference to the digital currency.
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