US Regulators are Developing New Rules for Cryptocurrency

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, recent statements
Donald Trump about Bitcoin, as well as Facebook’s announcement of his Libra cryptocurrency project, gives every reason to assume that the regulator intends to tackle digital money in order to limit their 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.

“Considering all these critical currency assets, we intend to make sure that there is a uniform approach. After that, I suppose, regulatory agencies will propose new requirements for assets of this type, ”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 remind you that on July 30, the US Senate Banking Committee will discuss
problems of regulation of cryptocurrency industry.