There's a new plan to regulate cryptocurrencies. Here's what you need to know

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There is wide agreement some regulation is needed, but who should do it is up for debate. Chris McGrath/Getty Images

Chris McGrath/Getty Images

Things change fast in the world of crypto.

Prices were at dizzying heights in November, and then came the crash. In just a couple of weeks in May, cryptocurrencies lost more than half a trillion dollars in market value.

The most spectacular implosion was a cryptocurrency called TerraUSD. It was a stablecoin – meaning its value was supposed to be pegged

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