USA: FinCEN prepares new rules for cryptocurrency

The Financial Crimes Enforcement Network working on new rules in order to prevent the money laundering with the crypto-currency like Bitcoin.

Yesterday, during a hearing before the Senate Finance Committee, the US Secretary of the Treasury, Steven Mnuchinsaid the United States would soon announce new rules for the systems of cryptocurrency and of digital payment, reports Bloomberg.

Mnuchin explained that the FinCEN was currently focusing on creating a regulation to enhance transparency and prevent the use of digital assets like "old Swiss secret bank accounts".

We are going to roll out new rules so that law enforcement can see where the funds are going and not be used for money laundering, "he added.

The Financial Crimes Enforcement Network or FinCEN is an agency of the United States Department of the Treasury which collects and analyzes information on financial transactions in order to combat money laundering, the financing of terrorism and other financial crimes.