President Joe Biden told United States federal agencies to regulate cryptocurrencies and other digital assets, like NFTs. Biden maintains that regulating this fast-growing industry is so important that it’s become a “matter of national security.” It’s an interesting point of time for this action, as the crypto market is going through a tumultuous time, losing large amounts of value for its investors.
Regulatory bodies, such as the Securities and Exchange Commission, the Commodity Futures Trading Commission, Internal Revenue Service and FINRA, will likely coordinate their investigations, audits and examinations. They’ll also review whether or not tokens should be considered and registered as securities.
So far, the likelihood of regulation and the “recent crash in the value of bitcoin and other cryptocurrencies has not yet affected the rich total compensation packages offered by cryptocurrency firms, according to an analysis by the professional social network Blind.”
The compensation is highly competitive at cryptocurrency exchanges. They also tend to offer remote work options and other great benefits. Typical total compensation packages at bitcoin and cryptocurrency exchanges usually offer employees equity, stock options and restricted stock units—which could result in future windfalls, if the firm does well.