Once again, the crypto sector is the focus of supervisors when this time Sweden is said to be tightening digital asset laws in the country.
Despite receiving criticism regarding its security and integrity as an asset, the crypto sector continues to gain popularity and growth. For example, Wall Street banks such as Goldman Sachs Group Inc, Bank of Singapore DBS, and Citigroup have offered crypto-related services.
Riksbank Governor Stefan Ingves explained the matter was gaining worldwide coverage. As consumers become increasingly attracted to cryptocurrencies, money laundering crimes also have the potential to increase.
For now, the government is already in the process of tightening legal standards for crypto exchange platforms. Finance Minister Asa Lindhagen described the effort as 'international'.
This news is the latest unpleasant news after China acted to crack down on the crypto market by blocking any services related to Bitcoin and other cryptocurrencies.
The Securities and Exchange Commission (SEC) has also begun to seriously want to tighten crypto laws in the hope of working with congress to realize the effort.
At the time of writing, Bitcoin (BTC) and Ethereum (EHT) are trading at $ 36,480, and $ 2,620, respectively, down nearly 1% in 24 hours.
