Treasury Secretary Steven Mnuchin recently gave a speech on cryptocurrencies. Here’s a summary of what he said:
Mnuchin began by noting that cryptocurrencies have the potential to be used for illicit activities, and that the security of digital assets is a priority for the U.S. Treasury. He then went on to discuss the importance of anti-money laundering (AML) and combating the financing of terrorism (CFT) measures for digital assets.
Mnuchin mentioned that the Financial Action Task Force (FATF) has established standards for digital assets, and that the U.S. Treasury is working to ensure that these standards are applied in the U.S. He also noted that the U.S. Treasury is working with other regulatory agencies and departments to extend AML/CFT requirements to digital assets.
Mnuchin concluded his speech by emphasizing the need for a comprehensive approach to regulating digital assets, and that the U.S. Treasury is committed to working with other regulatory agencies to ensure that the U.S. is a leader in this effort.
