U.S. Presidential candidate Michael Bloomberg proposes creating a clear regulatory framework for cryptocurrencies

According to CoinDesk, U.S. presidential candidate Michael Bloomberg released a financial reform plan during Tuesday's election campaign advocating greater consumer protection and a stronger financial system. Specifically, the proposal suggests that financial institutions be required to monitor risk exposures, record all financial transactions in a centralized database, strengthen the Consumer Financial Protection Agency, and other recommendations. At the same time, the proposal proposes creating a regulatory sandbox for startups and providing a clear regulatory framework for cryptocurrencies.