Crypto Market Regulation: The Impact of the Crypto-Currency Act of 2021

The **United States House of Representatives** is the lower chamber of the U.S. Congress, established by the Constitution in 1789 as part of the federal legislative branch. It works alongside the Senate to draft, debate, and pass federal laws, with legislation requiring approval from both chambers before reaching the president for signature or veto[1][2][4]. The House is unique in its authority to initiate all revenue-related bills, impeach federal officials, and elect the president if no candidate gains an Electoral College majority[1][3]. Comprising 435 voting members apportioned based on state populations, the House reflects the principle of proportional representation. Members serve two-year terms, ensuring responsiveness to the electorate and frequent accountability[1][3]. Representatives must be at least 25 years old, U.S. citizens for seven years, and residents of their elected states[3]. The House also includes nonvoting delegates representing U.S. territories and the District of Columbia[3]. Leadership in the House centers on the **Speaker of the House**, who presides over sessions, manages legislative priorities, and is second in line to the presidency. The majority party controls key leadership roles, including majority and minority leaders and whips, which coordinate party strategy and legislative agendas[2][6]. The House operates largely on a majority-rule basis, enabling relatively efficient passage of legislation compared to the Senate’s more individual senator-driven procedures[6]. Historically, the House has been a critical arena for shaping national policy, reflecting the people's will directly through frequent elections and district-based representation. Its committee system facilitates detailed legislative review, and its evolving leadership roles have enhanced its influence on governance and policy[4][6]. For business and technology sectors, the House plays a vital role in passing laws affecting commerce, innovation, taxation, and regulation, thereby shaping the economic and technological landscape of the United States[1][4]. Its legislative actions on technology policy, intellectual property, cybersecurity, and digital market

The **Financial Crimes Enforcement Network (FinCEN)** is a bureau of the U.S. Department of the Treasury dedicated to safeguarding the financial system from illicit activity, such as money laundering, terrorist financing, and other financial crimes. Established in 1990, FinCEN plays a critical role in promoting national security by collecting, analyzing, and disseminating financial intelligence to law enforcement agencies, regulators, and financial institutions[1][2][5]. FinCEN’s origins trace back to its launch as an analytics and intelligence network under the Bank Secrecy Act (BSA) framework. In 1994, its mandate expanded to regulatory enforcement, giving it the authority to implement and enforce anti-money laundering (AML) regulations, including suspicious activity reporting (SAR) and politically exposed persons (PEP) screening[2]. FinCEN administers the BSA, the nation’s foremost AML and counter-terrorism financing statute, leveraging financial transaction data from banks and other entities to detect patterns of illicit finance and criminal activity[5]. Key achievements include developing the 314 program under the USA PATRIOT Act in 2001, which created a secure network connecting law enforcement with over 27,000 financial institutions to rapidly identify and track suspicious accounts linked to terrorism and money laundering[7]. FinCEN also engages globally as the U.S. representative in the Egmont Group, collaborating with over 100 international financial intelligence units to combat cross-border financial crime[2][5]. Currently, FinCEN continues to modernize its technology and data analytics capabilities to enhance regulatory compliance, enforcement, and information sharing. It supports investigations with advanced financial expertise and maintains critical information systems like the BSA E-Filing system, which enables efficient reporting and data query access for authorized users[4][6]. Notably, FinCEN’s Office of Special Investigations employs special agents focused on complex enforcement actions, including unauthorized disclosures and financial crime investigations[7]. FinCEN’s strategic use of

The **Securities and Exchange Commission (SEC)** is a U.S. federal regulatory agency established in 1934 by the Securities Exchange Act following the 1929 stock market crash. Its core mission is to **protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation**[1][3][5][7]. The SEC plays a critical role in ensuring transparency and honesty in securities markets by enforcing federal securities laws and requiring public companies to disclose material information about their business and investment risks[5][7]. The SEC has broad authority over the securities industry, including regulation of securities exchanges, brokers, dealers, investment advisers, and mutual funds[4]. It is governed by five presidentially appointed Commissioners, with no more than three from the same political party, and organized into specialized divisions such as Corporation Finance, Trading and Markets, Investment Management, Enforcement, Economic and Risk Analysis, and Examinations[1][6]. Key functions include: - **Investor protection** through enforcement actions, investor education, and whistleblower programs. - **Regulating securities markets** by issuing and enforcing rules to prevent fraud, insider trading, and market manipulation. - **Facilitating capital formation** by helping companies, including small and emerging businesses, raise funds compliantly via public offerings and private placements[1][2][4]. The SEC has been a pivotal institution in restoring and maintaining investor confidence in U.S. financial markets since the Great Depression. It modernizes its approach by adapting to evolving market conditions, such as the rise of financial technology, through initiatives like the FinHub[2]. Its Division of Enforcement, created in 1972, consolidates investigations and legal actions against securities law violations[4]. Today, the SEC combines regulatory oversight with data transparency and public engagement, operating regional offices nationwide and advisory committees to stay attuned to market developments and investor needs[1]. Its continuous efforts ensure the U.S. markets remain trustworthy and accessible, underpinning the economy and technological

The **Commodity Futures Trading Commission (CFTC)** is an independent U.S. federal agency established in 1974 to regulate the nation's derivatives markets, including futures, options, and swaps. Its mission is to promote the integrity, resilience, and vibrancy of these markets through effective regulation, ensuring they operate fairly and transparently while protecting market participants and the broader economy[1][2][5]. The CFTC oversees a broad range of market entities such as designated contract markets (exchanges), swap execution facilities, derivatives clearing organizations, swap data repositories, swap dealers, and futures commission merchants. These markets significantly influence the U.S. economy by determining prices for essential goods and services, including food, energy, and transportation. The derivatives markets enable businesses—from farmers to airlines—to manage risks related to price fluctuations in commodities, currencies, and borrowing costs[1][4]. Historically, the CFTC was created in response to the expanding and increasingly complex futures markets of the early 1970s, which had grown to a $500 billion annual trading volume. Its formation unified regulatory oversight to prevent fraud, manipulation, and abusive trading, thereby restoring confidence in commodity trading and facilitating efficient price discovery[5][4]. The CFTC’s organizational structure includes divisions focused on clearing and risk management, market oversight, enforcement, and regulation of market participants. The Division of Enforcement actively investigates and prosecutes violations such as fraud and manipulation, using whistleblower programs to enhance market integrity. The Commission also collaborates with foreign regulators to oversee global derivatives trading[6][7][4]. Notable achievements include establishing robust regulatory frameworks under the Commodity Exchange Act and the Dodd-Frank Act, which expanded CFTC’s authority to cover swaps and major market participants, enhancing systemic risk oversight. The agency’s enforcement actions have held large corporations accountable, protecting smaller businesses and individual investors[2][7][8]. Today, the CFTC continues to evolve, addressing emerging challenges like digital asse