Odaily Planet Daily News Montana is accelerating the digital asset regulatory framework to cope with the surge in cryptocurrency fraud. State Securities and Insurance Commissioner James Brown cited data from the Federal Trade Commission, saying that fraud losses in the United States will reach $12.5 billion in 2024, a year-on-year increase of 25%. Among them, the elderly group has become the main victim because of its sixth largest population in the United States.
Brown supports the "Network Token Regulation Act" considered by the state legislature. The proposal will authorize regulators to implement access review and continuous supervision of blockchain trading service providers. At the same time, if the bill is passed, Montana will become the first jurisdiction in the United States to systematically regulate on-chain trading entities. (Bitcoin.com)