U.S. multi-state regulators warn that cryptocurrency legislation may weaken enforcement capabilities

ChainCatcher news, according to Bloomberg, regulatory agencies from several states, including Alabama and Montana, have warned that the cryptocurrency market structure bill currently under consideration in Congress could undermine the ability of states to combat cryptocurrency-related crimes. This concern is particularly alarming at a critical time when cryptocurrency prices are nearing historical highs and fraudulent activities are on the rise.

Regulators have stated that it is especially inappropriate to weaken enforcement capabilities at a time when criminals are trying to exploit the strong demand from investors for digital assets.