Banking Law News

New Crypto Rules Likely Coming From U.S. Agencies, Mnuchin Says

July 24, 2019, 2:10 PMUpdated: July 24, 2019, 2:57 PM

Treasury Secretary Steven Mnuchin says U.S. regulators are likely to issue new rules on cryptocurrencies to ensure that they don’t negatively impact the financial system.

After staying mostly quiet on the issue for more than two years, the Trump administration has been raising alarm over potential risks associated with virtual money since Facebook Inc. announced plans for a digital token last month. Mnuchin on July 24 repeated concerns that Bitcoin is being used for criminal activity and pledged that financial regulators would work together on the issue.

“We’re looking at all of the crypto assets,” Mnuchin said in a CNBC...

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