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Crypto to be overseen by US regulators with existing tools absent Congress stepping in, Fed’s Barr says

By Neil Roland ( March 9, 2023, 20:03 GMT | Insight) -- Michael Barr, the US Federal Reserve’s top regulator, said federal agencies will use their current tools to rein in cryptocurrency-related activities in the absence of Congress designing a comprehensive regulatory regime. “When we think about regulating crypto-related activities, we don't think, you know, 'ah-ha!, we now have a new type of orange, we need to have new orange regulation',” he said in a public interview. “We say 'this new orange looks a lot like the oranges that we already eat'.”Michael Barr, the US Federal Reserve’s top regulator, said federal agencies will use their current tools to rein in cryptocurrency-related activities in the absence of Congress designing a comprehensive regulatory regime....

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