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US Treasury Secretary: US regulators are developing new rules for cryptocurrency

US-Treasury-Secretary-new-rules-for-cryptocurrency Stephen Mnuchin | US Treasury Secretary

According to US Treasury Secretary Stephen Mnuchin, there is every reason to develop new regulations for cryptocurrency by US regulators.

Over the past few years, the presidential administration has almost completely ignored cryptocurrencies. However, Donald Trump's recent statements about Bitcoin, as well as Facebook's announcement of Libra cryptocurrency project, give a reason to assume that the regulator intends to tackle digital money in order to limit its negative impact on the financial system.

Mnuchin once again stated that Bitcoin is used in illegal activities and called on regulators to begin joint development of countermeasures. 

"We're looking at all of the crypto assets," Mnuchin said in a CNBC television interview. "We're going to make sure we have a unified approach and my guess is that there are going to be more regulations that come out from all these agencies," said Mnuchin.

said Mnuchin.

At least six US regulatory agencies, including the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC), have said they are ready to contribute to creating the legal framework for regulating the cryptocurrency industry.


We also recall that on July 30, the US Senate Banking Committee will discuss the problems of regulating the cryptocurrency industry. 

SOURCE

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