Share this article
Trump Official Argues for 'Sweet Spot' in Crypto Regulation
The U.S. government needs to develop reasonable regulations around the nascent cryptocurrency space, said OMB director Mick Mulvaney.
Updated Dec 10, 2022, 8:35 p.m. Published Jun 20, 2018, 8:15 p.m.
Make us preferred on Google
The U.S. government needs to find the "sweet spot" in its oversight of the cryptocurrency ecosystem, Mick Mulvaney, acting director of the Consumer Financial Protection Bureau, said on Wednesday.
Speaking at the Future of Fintech conference hosted by research and analysis firm CB Insights, Mulvaney, who also heads the Office of Management and Budget, touted his pro-bitcoin credentials, noting that he is fiscally conservative and "was one of the founding members of the bitcoin caucus and blockchain caucus."
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Sympathies aside, he argued that regulation is important to protect investors – but the government should not discourage potential investors or developers from entering the market through burdensome laws or regulations.
Mulvaney explained:
"We knew at an early point in bitcoin that as with any developing financial technology we needed to find that sweet spot … if Mt. Gox became a regular occurrence it dramatically undermines confidence in the markets and prevents innovation. And if we over-regulate and discourage people from entering the marketplace, that has bad consequences too."
In other words, Mulvaney said, "we're looking for that Goldilocks [path] in the middle."
He explained the concerns that might arise with a lack of investor protection, saying: "It's a new and innovative technology, it's a nonbanking system, it's whatever. If people still can't get access to their own money, that's a problem. So the law's functioning correctly there."
What Mulvaney is trying to accomplish now, he argued, is ensuring that the application of an existing law doesn't lead to unintended consequences.
"If for some reason we're looking at you and the only way we can look at you is through the lens of the bricks and mortar financial institution, and because we do that it has this perverse or absurd result, that's what we're trying to identify and to prevent," he said.
Mick Mulvaneyhttps://www.cbinsights.com/research-future-of-fintech-livestream/ image via CB Insights
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Asia Morning Briefing: Bitcoin holds steady above $90K as fresh money returns to crypto
New-year allocations support bitcoin prices as leverage cools and volatility expectations rise.
What to know:
- Bitcoin remains stable above $90,000, reflecting consolidation rather than renewed selling pressure.
- Ethereum shows resilience with strong weekly and monthly performance, despite a cooling in futures positioning.
- Gold is expected to reach new highs in 2026 due to falling rates, central bank buying, and geopolitical risks.
Top Stories
