The U.S. Congressional Policy Division has released documents that suggest Senate Republicans are moving toward a more unified approach to cryptocurrency regulation.
The Senate Republican Policy Committee (RPC), chaired by U.S. Senator Roy Blunt (R-MO), works to develop legislative policy goals for the party and provides research and analysis on a variety of topics.
The short policy paper titled Cryptocurrency Entering the Mainstream, published on April 7, explores the benefits and dark side of cryptocurrencies. While the document touted the potential of cryptocurrencies to reduce transaction costs and speed and increase privacy, it also called attention to the role of cryptocurrencies in nefarious purposes such as ransomware attacks on payments, fraud, speculation and drug trafficking.