Yesterday, the U.S. Treasury Department held a meeting with cryptocurrency industry leaders to discuss regulatory and supervisory challenges facing the digital asset industry.
Secretary Steven Mnuchin issued the following statement:
“The U.S. welcomes responsible innovation, including new technologies that may improve the efficiency of the financial system. We must ensure that we balance innovation with the need to protect our national security and maintain the integrity of our financial system.”
Mnuchin has voiced his skepticism regarding crypto, including Bitcoin, in the past.
According to the Treasury, the agency is focused on preventing the misuse of virtual currencies by money launderers, terrorist financiers, and other bad actors. In fact, it has been a leader in the voice for FATF reform to provide more accountability for crypto transactions.
Treasury stated:
“The United States will continue to be at the forefront of regulating entities that provide cryptocurrency, and will not tolerate the use of cryptocurrencies in support of illicit activities.”
