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 further clarified that the agency is preparing intensely for this endeavor by formulating a framework of operations, but that the people behind this project are not being named for security reasons.
Source
Time will tell what those measures will be and what effect they will have on the cryptocurrency industry both locally and globally.
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 further clarified that the agency is preparing intensely for this endeavor by formulating a framework of operations, but that the people behind this project are not being named for security reasons.
Source
Time will tell what those measures will be and what effect they will have on the cryptocurrency industry both locally and globally.
