US Treasury Official Calls for Global Crypto Regulation
The Treasury undersecretary has called for other nations to regulate cryptocurrencies to help protect the financial system and national security.
Steven Mnuchin, secretary of the U.S. Treasury, has no issue with the launch of the Facebook-led Libra project – as long as financial rules are followed to the letter.
The deputy secretary of the U.S. Treasury has raised the specter of a not-so-distant future when private digital currencies have stripped some of the power from governments. Policymakers will take a "hard look" at that, he said.
The U.S. sanctions on financial institutions in Hong Kong could put the city’s growing crypto brokerage businesses in jeopardy.
Facebook's Libra and other cryptocurrencies operating in the U.S. must meet regulatory requirements to tackle financial crimes, the official said.
The everyday crypto user in the future is likely to spend time identifying illicit wallets and transactions to avoid, thanks to the U.S. Treasury.