The regulator is charged with overseeing derivatives market activity, including cryptocurrency derivatives.
"Hackers with a history of working for the PRC Ministry of State Security (MSS) have engaged in ransomware attacks, cyber enabled extortion, crypto-jacking, and rank theft from victims around the world, all for financial gain," a White House press release said.
White House antitrust adviser Tim Wu holds bitcoin and filecoin, according to a recent financial disclosure.
Proposed cryptocurrency regulations are in the first budget released by Joe Biden's White House.
Carol House, the National Security Council’s director of cybersecurity, said crypto developers failed to hardcode necessary guardrails.
The House Speaker said if a deal isn't reached by Tuesday evening, a package won't be likely before Nov. 3.
President Trump has signed an executive order establishing a new task force that targets consumer fraud, including those involving "digital currency."
The Trump administration has said it is keeping an eye on cryptocurrencies like bitcoin in the wake of its recent explosive price jumps.
A conference in Washington this week saw officials from the U.S. government reaffirm their commitment to investigating possible blockchain use cases.
Blockchain interest and awareness are increasing on Capitol Hill, spurred by a series of recent high-profile events.