The Financial Crimes Enforcement Network which answers to US Treasury department will be putting forth new regulations on cryptocurrencies according to US Treasury Secretary Steven Mnuchin.
During a speech before the Senate Finance Committee Mr. Mnuchin pointed out the increase of funding to anti-terror measures and said “specifically on cryptocurrencies, we are spending a lot of time on this, on both an interagency basis and with the regulators. We’re about to roll out some significant new requirements at FinCEN.”
He said this in reply to a question posed by Senator Maggie Hassan about the significant budget increase for monitoring suspicious and illegal activities that involve cryptocurrencies.
Source
These measures will likely have a wide-spread effect on the cryptocurrency industry globally, once they are implemented.
During a speech before the Senate Finance Committee Mr. Mnuchin pointed out the increase of funding to anti-terror measures and said “specifically on cryptocurrencies, we are spending a lot of time on this, on both an interagency basis and with the regulators. We’re about to roll out some significant new requirements at FinCEN.”
He said this in reply to a question posed by Senator Maggie Hassan about the significant budget increase for monitoring suspicious and illegal activities that involve cryptocurrencies.
Source
These measures will likely have a wide-spread effect on the cryptocurrency industry globally, once they are implemented.
