Bloomberg are reporting that the Trump administration will let the market know about new requirements for cryptoassets according to Treasury Secretary Steven Mnuchin.
Mnuchin was said to have told the Senate Finance Committee hearing that the department’s Financial Crimes Enforcement Network will be an announcement soon.
We are about to roll out some significant new requirements
The job of the Financial Crimes Enforcement Network is to prevent money laundering, terrorist financing and other financial crimes.
In the past, Treasury has been very clear to Facebook, Bitcoin supporters and users, and other providers of digital financial services that they must implement the same anti-money laundering and countering financing of terrorism which are known as AML/CFT safeguards as traditional financial institutions. Let’s see if this latest announcement is along the same lines.
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