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Biden Administration Wants Crypto Exchanges to Separate Customer and Corporate Funds

Federal officials saw Coinbase’s admission about customers’ vulnerability in a bankruptcy and will call for congressional action to segregate clients’ funds, source says.

The Biden administration is pushing for legislation that would fence off customer funds within crypto exchanges, keeping them safe in an exchange failure. (Andrey Denisyuk/Getty Images)
The Biden administration is pushing for legislation that would fence off customer funds within crypto exchanges, keeping them safe in an exchange failure. (Andrey Denisyuk/Getty Images)