US Treasury Secretary Announces Consensus on Facebook Cryptocurrency in G7
“Everything finance ministers and central bank governors in composition The G7 have come to a clear agreement that Libra, in particular, raises some serious concerns, as does cryptocurrencies in a broader sense, – stated he’s on CNBC. – We intend to make sure that these doubts are eliminated before than Who-or of us will allow them to continue “.
Mnuchin admitted that will be Very impressed when the cryptocurrency industry will start to follow themes the same the rules that now apply to “physical money service providers”. IN quality samples regulation, he mentioned the requirements Networks by Combating Financial Crime (FinCEN) and Bank Secrecy Law.
Although Mnuchin “wants to be convinced of Tom, that everyone who uses bitcoin, do this for proper and non-illegal purposes “, is he acknowledges that distributed ledger technology finds their “Obvious areas application“.
“Let me be clear: we fully support financial innovation and anything that helps reduce the cost of processing payments, especially international ones – added Minister of Finance, noting at this, what’s the main problem consists in opportunities use of cryptocurrencies for money laundering and terrorist financing. – We intend to ensure that Bitcoin does not become the equivalent of a bank account, the numbers in which talk about his belonging to Switzerland “.