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The Guardian - US
The Guardian - US
World
Martin Pengelly in Washington

US rise of cryptocurrency and fall of regulation pose ‘profound risks’ – report

two men in suits behind a table
Donald Trump speaks alongside his ‘crypto czar’, David Sacks, during the White House Crypto Summit in Washington on Friday. Photograph: Jim Watson/AFP/Getty Images

A new report warns of “profound risks” in American politics as cryptocurrency companies increase their political spending and Donald Trump oversees regulatory retreat while promising to create a “crypto strategic reserve”.

The situation “illustrate[s] the profound risks that unchecked corporate political spending presents, particularly within the volatile and often unpredictable cryptocurrency industry”, reads the report, from the Center for Political Accountability (CPA), a non-profit that advocates for corporate political disclosure.

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