{"id":5836,"date":"2022-01-24T19:50:24","date_gmt":"2022-01-24T19:50:24","guid":{"rendered":"http:\/\/egrowonline.com\/?p=5836"},"modified":"2022-01-24T19:50:24","modified_gmt":"2022-01-24T19:50:24","slug":"cryptocurrency-finds-itself-in-the-sights-of-robust-regulation","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=5836","title":{"rendered":"Cryptocurrency finds itself in the sights of robust regulation"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p data-testid=\"paragraph-0\" class=\"Text__text___3eVx1j Text__dark-grey___AS2I_p Text__regular___Bh17t- Text__large___1i0u1F Body__base___25kqPt Body__large_body___3g04wK ArticleBody__element___3UrnEs\">January 24, 2022 &#8211; Depending upon who you talk to, cryptocurrency is all the rage, a Ponzi scheme or yet another energy-consuming scourge on the environment. (See tweets by Elon Musk from mid-May 2021, citing the environmental impact of bitcoin transactions for Tesla&#8217;s decision to suspend bitcoin for purchasing vehicles.)<\/p>\n<p data-testid=\"paragraph-1\" class=\"Text__text___3eVx1j Text__dark-grey___AS2I_p Text__regular___Bh17t- Text__large___1i0u1F Body__base___25kqPt Body__large_body___3g04wK ArticleBody__element___3UrnEs\">Perhaps it is all three, but given the potential promise of its underlying technology, it is not going anywhere soon and will remain an emerging and even volatile commodity.<\/p>\n<p data-testid=\"paragraph-2\" class=\"Text__text___3eVx1j Text__dark-grey___AS2I_p Text__regular___Bh17t- Text__large___1i0u1F Body__base___25kqPt Body__large_body___3g04wK ArticleBody__element___3UrnEs\">The question is whether it will become something more. Whether it ever becomes a true currency is open for debate. Traditional fiat currency finds its worth in its issuer. Currencies are generally controlled by governments backing their worth. Governments also manipulate the currency to suit their needs and influence domestic and international policy. Bitcoin, created in 2008 as part of the cypherpunk movement of the early 1990s by the pseudonymous Satoshi Nakamoto, was intended to be the opposite. Thus, the advent of cryptocurrency, as it begins to gain hold, is often viewed as a threat to government power and control worldwide.<\/p>\n<div class=\"RegistrationPrompt__container___1zFX4Y RegistrationPrompt__inline___1dXxON ArticleBody__element___3UrnEs ArticleBody__mobile-only___2w_rXL\">\n<div class=\"RegistrationPrompt__text-content___2uMAHH\">\n<h5 class=\"Text__text___3eVx1j Text__white___2ncio9 Text__medium___1ocDap Text__heading_5___3obGkm Heading__base___1dDlXY Heading__heading_5___3VJIV0 RegistrationPrompt__heading___wc_GPj\">Register now for FREE unlimited access to Reuters.com<\/h5>\n<p><button class=\"Button__button___3FFWBE Button__secondary___jc-Lu5 Button__round___1BK77J TextButton__container___32tQxA RegistrationPrompt__button-text___3ZNlNC\" type=\"button\"><\/p>\n<p><span class=\"Text__text___3eVx1j Text__inherit-color___30vgWE Text__bold___2wRTrQ Text__default___1Xh7Yh TextButton__medium___1vp1Wy\">Register<\/span><\/p>\n<p><\/button><\/div>\n<\/div>\n<p data-testid=\"paragraph-3\" class=\"Text__text___3eVx1j Text__dark-grey___AS2I_p Text__regular___Bh17t- Text__large___1i0u1F Body__base___25kqPt Body__large_body___3g04wK ArticleBody__element___3UrnEs\">Because of that, and other reasons discussed below, most governments will move to ensure that cryptocurrency does not become anything more than an investor&#8217;s dalliance. And that may not be a bad thing. Imagine a world currency as volatile as a market driven by rumor and manipulation, where those with the loudest voices, or most-followed social media platforms, have the most influence. Imagine a world where Reddit bulletin boards have a major impact on the worth of our system of currency, where the currency of chaos abounds.<\/p>\n<p data-testid=\"paragraph-4\" class=\"Text__text___3eVx1j Text__dark-grey___AS2I_p Text__regular___Bh17t- Text__large___1i0u1F Body__base___25kqPt Body__large_body___3g04wK ArticleBody__element___3UrnEs\">For examples, one need look no further than the GameStop and meme stock frenzy that permeated headlines and certain sectors of the financial world in 2021. Interesting to some, but not to those who crave predictability and stability, which, we suspect, is the vast majority. Of course, on Sept. 7, 2021, El Salvador bucked this notion, becoming the first country to adopt bitcoin as official legal tender, a decision received with great skepticism by more traditional global financial establishments.<\/p>\n<p data-testid=\"paragraph-5\" class=\"Text__text___3eVx1j Text__dark-grey___AS2I_p Text__regular___Bh17t- Text__large___1i0u1F Body__base___25kqPt Body__large_body___3g04wK ArticleBody__element___3UrnEs\">Governments, too, are worried, not only about losing power to cryptocurrencies in the long term, but in the short term as well. This is especially true in areas such as tax avoidance, money laundering and other illicit transactions, and the skirting of regulatory requirements. Passage of the &#8220;Infrastructure Investment and Jobs Act,&#8221; <a target=\"_blank\" href=\"https:\/\/bit.ly\/3fDWuIP\" class=\"Text__text___3eVx1j Text__dark-grey___AS2I_p Text__medium___1ocDap Text__large___1i0u1F Link__underline_default___MkI7S8\" rel=\"noopener\">HR 3684<\/a>, on Nov. 15, 2021, introduced new reporting requirements for certain cryptocurrency transactions, which are wholly unrelated to &#8220;infrastructure.&#8221;<\/p>\n<p data-testid=\"paragraph-6\" class=\"Text__text___3eVx1j Text__dark-grey___AS2I_p Text__regular___Bh17t- Text__large___1i0u1F Body__base___25kqPt Body__large_body___3g04wK ArticleBody__element___3UrnEs\">Among other things, the Infrastructure Bill amends the anti-money-laundering &#8220;cash reporting&#8221; requirements to include &#8220;digital assets,&#8221; extending reporting obligations for certain transactions in excess of $10,000 in cash to encompass digital asset transactions exceeding $10,000, starting Jan. 1, 2023. The Infrastructure Bill broadly defines digital asset to mean &#8220;any digital representation of value which is recorded on a cryptographically secured distributed ledger or any similar technology as specified by the [Treasury] Secretary.&#8221; We do not anticipate government involvement in the crypto space stopping there.<\/p>\n<p data-testid=\"paragraph-7\" class=\"Text__text___3eVx1j Text__dark-grey___AS2I_p Text__regular___Bh17t- Text__large___1i0u1F Body__base___25kqPt Body__large_body___3g04wK ArticleBody__element___3UrnEs\">In certain circles, there is a push to do away with cash transactions and move entirely to a virtual currency. Indeed, on Nov. 30, 2021, Federal Reserve Chair Jerome Powell, testifying before the U.S. Senate Committee on Banking, Housing and Urban Affairs, made clear that, &#8220;You wouldn&#8217;t need stablecoins; you wouldn&#8217;t need cryptocurrencies if you had a digital U.S. currency. I think that&#8217;s one of the stronger arguments in its favor.&#8221; This movement was hastened during the pandemic as more people were forced to buy virtually and others became increasingly averse to hand-to-hand currency transactions.<\/p>\n<p data-testid=\"paragraph-8\" class=\"Text__text___3eVx1j Text__dark-grey___AS2I_p Text__regular___Bh17t- Text__large___1i0u1F Body__base___25kqPt Body__large_body___3g04wK ArticleBody__element___3UrnEs\">A crypto-wallet could not only solve these types of problems, but could make government distribution of monies much more seamless. Lael Brainard, a member of the Federal Reserve Board of Governors, noted that this trend &#8220;has intensified calls for CBDCs [Central Bank Digital Currencies] to maintain the sovereign currency as the anchor of the nation&#8217;s payment systems.&#8221; See Lael Brainard, Speech at the Federal Reserve Board and Federal Reserve Bank of San Francisco&#8217;s Innovation Office Hours, San Francisco, Calif.: &#8220;<a target=\"_blank\" href=\"https:\/\/bit.ly\/3ImRhBv\" class=\"Text__text___3eVx1j Text__dark-grey___AS2I_p Text__medium___1ocDap Text__large___1i0u1F Link__underline_default___MkI7S8\" rel=\"noopener\">An Update on Digital Currencies<\/a>&#8220;; (Aug. 13, 2020).<\/p>\n<p data-testid=\"paragraph-9\" class=\"Text__text___3eVx1j Text__dark-grey___AS2I_p Text__regular___Bh17t- Text__large___1i0u1F Body__base___25kqPt Body__large_body___3g04wK ArticleBody__element___3UrnEs\">China and Switzerland have taken a leading role in looking into the CBDC arena. According to the <a target=\"_blank\" href=\"https:\/\/bit.ly\/3GLJs8f\" class=\"Text__text___3eVx1j Text__dark-grey___AS2I_p Text__medium___1ocDap Text__large___1i0u1F Link__underline_default___MkI7S8\" rel=\"noopener\">CBDC Tracker<\/a> maintained by the Atlantic Council, there are currently 79 countries in various phases of researching and developing their own digital currency.<\/p>\n<p data-testid=\"paragraph-10\" class=\"Text__text___3eVx1j Text__dark-grey___AS2I_p Text__regular___Bh17t- Text__large___1i0u1F Body__base___25kqPt Body__large_body___3g04wK ArticleBody__element___3UrnEs\">In the absence of a United States-issued digital currency, private industry cryptocurrencies have been filling the void. As of November 2021, it was estimated that there were more than 10,000 different cryptocurrencies in existence, and the crypto asset market surpassed $3 trillion globally.<\/p>\n<p data-testid=\"paragraph-11\" class=\"Text__text___3eVx1j Text__dark-grey___AS2I_p Text__regular___Bh17t- Text__large___1i0u1F Body__base___25kqPt Body__large_body___3g04wK ArticleBody__element___3UrnEs\">On April 17, 2021, Gary Gensler became the chair of the Securities and Exchange Commission. Gensler joined the SEC acutely aware of the crypto space, having taught courses in cryptocurrency at the Massachusetts Institute of Technology and having previously served as chair of the U.S. Commodity Futures Trading Commission in the Obama administration. Gensler has led with a focus on more regulation and an expressed desire for more robust measures to improve investor protection in the crypto space. During a recent interview with The Wall Street Journal, Gensler reaffirmed his view that  the crypto market \u201cneeds more investor protection\u201d and that digital assets fit within the \u201cbroad remit\u201d  at the SEC. \u201cSEC Chairman on New Regulations on Cryptocurrencies and Climate Risk,\u201d The Wall Street  Journal, Dec. 12, 2021.<\/p>\n<p data-testid=\"paragraph-12\" class=\"Text__text___3eVx1j Text__dark-grey___AS2I_p Text__regular___Bh17t- Text__large___1i0u1F Body__base___25kqPt Body__large_body___3g04wK ArticleBody__element___3UrnEs\">While maintaining that the SEC&#8217;s powers are already broad, Gensler has nonetheless asked Congress to pass legislation giving the agency the authority to monitor crypto exchanges. Recognizing that not all crypto tokens can be classified as securities under the test established in SEC v. W.J. Howey Co.(U.S. Sup. Ct. 1946), Gensler has maintained that because cryptocurrency platforms typically offer trading in multiple tokens, it is likely that at least some will be securities, and has repeatedly invited crypto trading platforms to work with the SEC and &#8220;come in&#8221; and &#8220;get registered.&#8221;<\/p>\n<p data-testid=\"paragraph-13\" class=\"Text__text___3eVx1j Text__dark-grey___AS2I_p Text__regular___Bh17t- Text__large___1i0u1F Body__base___25kqPt Body__large_body___3g04wK ArticleBody__element___3UrnEs\">Notwithstanding this offer, some platforms have not received the clarity or cooperation that this invitation implies. For example, in the fall of 2021, after months of effort by Coinbase to engage the SEC about its planned Coinbase LEND program, the agency advised the company of its intent to sue. And Ripple Labs has been defending itself in the Southern District of New York since December 2020, despite its earlier attempts to settle with the SEC.<\/p>\n<p data-testid=\"paragraph-14\" class=\"Text__text___3eVx1j Text__dark-grey___AS2I_p Text__regular___Bh17t- Text__large___1i0u1F Body__base___25kqPt Body__large_body___3g04wK ArticleBody__element___3UrnEs\">Similarly, Gurbir Grewal, director of the SEC&#8217;s Division of Enforcement, who was New Jersey&#8217;s attorney general and a federal prosecutor, has emphasized restoring public trust in financial markets as an overarching goal. Grewal has pointed to robust enforcement, controls and procedures for ensuring compliance, and accountability through stricter penalties for misconduct.<\/p>\n<p data-testid=\"paragraph-15\" class=\"Text__text___3eVx1j Text__dark-grey___AS2I_p Text__regular___Bh17t- Text__large___1i0u1F Body__base___25kqPt Body__large_body___3g04wK ArticleBody__element___3UrnEs\">Grewal has made clear that the SEC will engage in proactive enforcement while applying securities definitions in existing rules to emerging technologies, including cryptocurrency specifically and decentralized finance (DeFi) more generally (read to include non-fungible tokens (NFTs) and decentralized autonomous organizations (DAOs)). He claims he will require admissions of guilt in certain circumstances, a substantive change in agency operations.<\/p>\n<p data-testid=\"paragraph-16\" class=\"Text__text___3eVx1j Text__dark-grey___AS2I_p Text__regular___Bh17t- Text__large___1i0u1F Body__base___25kqPt Body__large_body___3g04wK ArticleBody__element___3UrnEs\">In October 2020, the Department of Justice released its Cryptocurrency Enforcement Framework, stressing prosecution of illegal conduct that touches on financial data or computers in the United States, even if the criminal actors reside outside the country. In January 2021, federal authorities announced criminal charges against an individual who solicited monies for various cryptocurrency funds he operated. In February 2021, the U.S. Attorney for the Southern District of New York announced that the operator of two cryptocurrency hedge funds pleaded guilty to securities fraud.<\/p>\n<p data-testid=\"paragraph-17\" class=\"Text__text___3eVx1j Text__dark-grey___AS2I_p Text__regular___Bh17t- Text__large___1i0u1F Body__base___25kqPt Body__large_body___3g04wK ArticleBody__element___3UrnEs\">That same month, the SEC charged three individuals with defrauding hundreds of retail investors out of more than $11 million through two fraudulent and unregistered digital asset securities offerings. On Feb. 26, 2021, foreshadowing what Gensler&#8217;s focuses might be, the SEC&#8217;s Division of Examinations issued a <a target=\"_blank\" href=\"https:\/\/bit.ly\/3tHrjEE\" class=\"Text__text___3eVx1j Text__dark-grey___AS2I_p Text__medium___1ocDap Text__large___1i0u1F Link__underline_default___MkI7S8\" rel=\"noopener\">Risk Alert<\/a> emphasizing an intention to focus on activities of investment advisers, broker-dealers, exchanges and transfer agents related to the offer, sale and trading of digital assets.<\/p>\n<p data-testid=\"paragraph-18\" class=\"Text__text___3eVx1j Text__dark-grey___AS2I_p Text__regular___Bh17t- Text__large___1i0u1F Body__base___25kqPt Body__large_body___3g04wK ArticleBody__element___3UrnEs\">Under Gensler&#8217;s tenure, the SEC has stepped up its work in the cryptocurrency market. On May 29, just a month after Gensler assumed the helm, the Wall Street Journal reported that the SEC sued five individuals who helped raise more than $2 billion from investors in one of the then-largest digital asset cases brought by that agency. Between Aug. 4 and 9, 2021, the SEC commenced three separate enforcement actions relating to digital assets.<\/p>\n<p data-testid=\"paragraph-19\" class=\"Text__text___3eVx1j Text__dark-grey___AS2I_p Text__regular___Bh17t- Text__large___1i0u1F Body__base___25kqPt Body__large_body___3g04wK ArticleBody__element___3UrnEs\">On Sept. 1, 2021, the SEC Office of Investor Education and Advocacy and Division of Enforcement&#8217;s Retail Strategy Task Force issued an investor <a target=\"_blank\" href=\"https:\/\/bit.ly\/33zmzGH\" class=\"Text__text___3eVx1j Text__dark-grey___AS2I_p Text__medium___1ocDap Text__large___1i0u1F Link__underline_default___MkI7S8\" rel=\"noopener\">alert<\/a> to &#8220;remind investors to watch out for investment schemes involving digital assets and &#8216;crypto.'&#8221; On Dec. 2, 2021, the SEC charged a Latvian citizen with defrauding hundreds of retail investors out of at least $7 million through two separate fraudulent digital asset securities offerings.<\/p>\n<p data-testid=\"paragraph-20\" class=\"Text__text___3eVx1j Text__dark-grey___AS2I_p Text__regular___Bh17t- Text__large___1i0u1F Body__base___25kqPt Body__large_body___3g04wK ArticleBody__element___3UrnEs\">On Aug. 3, 2021, during remarks before the Aspen Security forum, Gensler noted his agreement with former SEC Chairman John Clayton&#8217;s 2018 statement that &#8220;every ICO [initial coin offering] I have seen is a security \u2014 we have jurisdiction, and our federal securities laws apply.&#8221;<\/p>\n<p data-testid=\"paragraph-21\" class=\"Text__text___3eVx1j Text__dark-grey___AS2I_p Text__regular___Bh17t- Text__large___1i0u1F Body__base___25kqPt Body__large_body___3g04wK ArticleBody__element___3UrnEs\">Thus, the bottom line for someone contemplating entry into this arena is to proceed with caution. As governments confront the many threats, perceived or otherwise, that cryptocurrency poses to their power and ability to maintain fiscal control, more laws, regulations and stringent enforcement will follow. If you are in or thinking about entering the crypto space, do so with the knowledge that government scrutiny will become more and more invasive and enforcement more robust.<\/p>\n<div class=\"RegistrationPrompt__container___1zFX4Y RegistrationPrompt__inline___1dXxON ArticleBody__element___3UrnEs\">\n<div class=\"RegistrationPrompt__text-content___2uMAHH\">\n<h5 class=\"Text__text___3eVx1j Text__white___2ncio9 Text__medium___1ocDap Text__heading_5___3obGkm Heading__base___1dDlXY Heading__heading_5___3VJIV0 RegistrationPrompt__heading___wc_GPj\">Register now for FREE unlimited access to Reuters.com<\/h5>\n<p><button class=\"Button__button___3FFWBE Button__secondary___jc-Lu5 Button__round___1BK77J TextButton__container___32tQxA RegistrationPrompt__button-text___3ZNlNC\" type=\"button\"><\/p>\n<p><span class=\"Text__text___3eVx1j Text__inherit-color___30vgWE Text__bold___2wRTrQ Text__default___1Xh7Yh TextButton__medium___1vp1Wy\">Register<\/span><\/p>\n<p><\/button><\/div>\n<\/div>\n<div>\n<p class=\"Text__text___3eVx1j Text__medium-grey____X3zmS Text__regular___Bh17t- Text__extra_small___3GR_6R Body__base___25kqPt Body__extra_small_body___3WRdPM LegalDisclaimer__text___3tFYTG\">Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.<!-- --> Westlaw Today is owned by Thomson Reuters and operates independently of Reuters News.<\/p>\n<\/div>\n<div class=\"ArticleBody__element___3UrnEs AuthorBio__multiple-authors___2m9MBK\">\n<address class=\"AuthorBio__author-card___TqpN3V horizontal\"><a target=\"_blank\" class=\"AuthorBio__author-image___1NeA9Y\" href=\"https:\/\/www.reuters.com\/authors\/hunt-s-ricker\/\" rel=\"noopener\"><\/p>\n<div class=\"AuthorBio__author-info___2ltx6T\"><a target=\"_blank\" rel=\"author noopener\" href=\"https:\/\/www.reuters.com\/authors\/hunt-s-ricker\/\" class=\"Text__text___3eVx1j Text__dark-grey___AS2I_p Text__medium___1ocDap Text__heading_6___m3CqfX Heading__base___1dDlXY Heading__heading_6___1ON736 AuthorBio__name___3tO7AY\">Hunt S. Ricker<\/a><\/p>\n<p class=\"Text__text___3eVx1j Text__dark-grey___AS2I_p Text__regular___Bh17t- Text__small___MoVgdT Body__base___25kqPt Body__small_body___28Cxon AuthorBio__description___1QuwyK\">Hunt S. Ricker, a partner in the Securities Litigation, Arbitration, Regulation and Investigations Group at Riker Danzig in Morristown, N.J., devotes a portion of his practice to monitoring the advancement of securities regulation and litigation relating to cryptocurrencies, digital assets and blockchain technology. He may be reached at hricker@riker.com. <\/p>\n<\/div>\n<\/address>\n<address class=\"AuthorBio__author-card___TqpN3V horizontal\"><a target=\"_blank\" class=\"AuthorBio__author-image___1NeA9Y\" href=\"https:\/\/www.reuters.com\/authors\/charles-b-mckenna\/\" rel=\"noopener\"><\/p>\n<div class=\"AuthorBio__author-info___2ltx6T\"><a target=\"_blank\" rel=\"author noopener\" href=\"https:\/\/www.reuters.com\/authors\/charles-b-mckenna\/\" class=\"Text__text___3eVx1j Text__dark-grey___AS2I_p Text__medium___1ocDap Text__heading_6___m3CqfX Heading__base___1dDlXY Heading__heading_6___1ON736 AuthorBio__name___3tO7AY\">Charles B. Mckenna<\/a><\/p>\n<p class=\"Text__text___3eVx1j Text__dark-grey___AS2I_p Text__regular___Bh17t- Text__small___MoVgdT Body__base___25kqPt Body__small_body___28Cxon AuthorBio__description___1QuwyK\">Charles B. McKenna is a partner in Riker Danzig&#8217;s White Collar Criminal Defense and Investigations practice and former chief of the Criminal Division of the U.S. Attorney&#8217;s Office for the District of New Jersey. He may be reached at cmckenna@riker.com.<\/p>\n<\/div>\n<\/address>\n<\/div>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.reuters.com\/legal\/transactional\/cryptocurrency-finds-itself-sights-robust-regulation-2022-01-24\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>January 24, 2022 &#8211; Depending upon who you talk to, cryptocurrency is all the rage, a Ponzi scheme or yet another energy-consuming scourge on the environment. (See tweets by Elon Musk from mid-May 2021, citing the environmental impact of bitcoin transactions for Tesla&#8217;s decision to suspend bitcoin for purchasing vehicles.) Perhaps it is all three, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":5837,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[39],"tags":[52,1641,987,4136,4135],"class_list":["post-5836","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ico","tag-cryptocurrency","tag-finds","tag-regulation","tag-robust","tag-sights"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/01\/OZIEFAHPYZNTBK2DBAT7THTKCQ.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/5836","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5836"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/5836\/revisions"}],"predecessor-version":[{"id":5838,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/5836\/revisions\/5838"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/5837"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5836"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5836"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5836"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}