US authorities have changed their positions on cryptocurrencies and upcoming regulatory steps are not cause for concern. According to The Block, this was announced at the Bitcoin 2022 conference by MicroStrategy president Michael Saylor and CEO Ark Invest Cathy Wood.

Both speakers acknowledged the chairman. SEC Gary Gensler may brief US Treasury Secretary Janet Yellen “on the importance of protecting innovation and cryptocurrencies.”

“I don’t think there is a negative outcome for Bitcoin,” Saylor said.

According to Wood, political attitudes towards digital gold have changed dramatically, especially since Joe Biden took office as President of the United States. He also opposed Yellen’s statements.

Initially, the head of the Ministry of Finance spoke of cryptocurrency as a tool for money laundering and described bitcoin as a speculative asset. At the end of March 2022, Yellen explained the importance of digital assets in citizens’ investment decisions.

On March 9, Biden signed an executive order coordinating federal agencies in regulating cryptocurrencies. Prior to that, the president passed a law to finance infrastructure spending.

At the end of March, Senators Cynthia Lummis and Kirsten Gillibrand unveiled details of a bill designed to clarify the regulation of cryptocurrencies. The document clarifies, among other things, the definition of a broker in terms of infrastructure and provides for the creation of a specialized supervisory body.

Recall that the White House has predicted an additional $11 billion in revenue from taxes on cryptocurrencies.