USA Treasury Dept. Chief says “Specifically on cryptocurrencies, we are spending a lot of time on this”

posted 5 months ago
US Treasury Secretary Steven Munchin spoke to the US Senate yesterday regarding the 2021 Trump budget, and he also spoke about cryptocurrencies. He said “Specifically on cryptocurrencies, we are spending a lot of time on this… with regulators, we’re about to roll out some significant new requirements at FinCEN (USA’s financial crime unit focusing on AML, terrorist financing etc.)

We want to make sure that technology moves forward, but on the other hand, we want to make sure that cryptocurrencies aren’t used for the equivalent of old Swiss secret number bank accounts… You’’ll be seeing a lot of work coming out very quickly.”
Tags: bitcoin, blockchain, news