Regulators in ‘sprint’ to crack down on cryptocurrencies, Fed official says

The feds have a clear message for cryptocurrency users: A crackdown is coming. 

Federal Reserve vice chair of supervision Randal Quarles told the Senate Banking Committee on Tuesday that the agency is in a “sprint” alongside other US financial regulators to tighten supervision of cryptocurrencies like bitcoin and ethereum, according to Reuters.  “We along with the OCC and the FDIC are engaged right now in what we are calling a sprint in seeking to pull together views on exactly that,” Quarles said.