But supervision of bank-like crypto firms could be a pain for regulators, said Andrea Enria, chair of the supervisory board at the European Central Bank.
The Treasury encouraged users to voluntarily disclose unpaid income or capital gains tax from crypto, NFT and utility token holdings.
The project is a first step in exploring privacy, security and scalability for central bank digital currency design, a report on the BIS initiative said.
Blockchain analytics firm TRM Labs has partnered with Australian cryptocurrency exchange Swyftx in an effort to combat scams in the nation.
As hype builds for spot Bitcoin ETFs in the U.S., some are concerned the industry is moving away from the “core promise” of cryptocurrencies.