Bitcoin to Be Regulated by New Rules Made Inside US Agencies: US Treasury Chief Mnuchin

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Thu, 07/25/2019 - 08:31
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Yuri Molchan
The head of the US Treasury believes new crypto regulations will emerge from US agencies to prevent Bitcoin and Co from harming the current global financial system
Bitcoin to Be Regulated by New Rules Made Inside US Agencies: US Treasury Chief Mnuchin
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As reported by Bloomberg, the administration of the US president Donald Trump is ringing the alarm for fear of Bitcoin and other crypto bringing heavy damage to the traditional system of finance.

Earlier this week, the US Treasury chief Mnuchin stated that the plans of Facebook regarding Libra have got financial authorities in the US and other countries very much concerned. 

Lawmakers and central banks are led to believe that the launch of Libra will increase criminal activity and illegal funds transferring.

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For this reason, Mnuchin assumed that US regulators are going to get down to work on new crypto regulations that will cover crypto that is in existence at the moment and the coming-soon Libra Coin.

At a recent interview, Mnuchin said:

We’re looking at all of the crypto assets. We’re going to make sure we have a unified approach and my guess is that there are going to be more regulations that come out from all these agencies.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.